Advisory fuel rates from 1 June 2023

HMRC have published new advisory fuel rates for company car drivers which apply from 1 June 2023. 

The most notable change this quarter is that the rates reflect the fact that diesel prices are starting to come down, reducing the gap between petrol and diesel, whilst, as energy prices start to stabilise, the electric car rate remains at 9p. 

The electric rate is now being reviewed on a quarterly basis with effect from 1 March 2023. 

The new rates per mile are:

* Fully electric cars only

Hybrid cars are treated as either petrol or diesel cars for these purposes.

The old rates may be used until 30 June 2023, see Advisory fuel rates (company car drivers)

Useful guides on this topic

Company cars
Company car tax. How do you work out car benefits? How do you work out the car fuel benefit? Are there savings for low-emissions vehicles? How do you reduce the car benefit? Cars and the tax tribunals and Top Tax Tips.