Ukraine unrest ‘to hit fleets’ as pump prices rise

Friday, March 14, 2014 - 15:30
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TRAGIC: Unrest in Ukraine has shocked Europe

Fleet managers must expect severely increased operating costs as a result of the Ukraine crisis, an industry expert has claimed.

Steve Clarke, Managing Director of The Fuel Card Group, insists that the political turmoil in the Crimea will have an impact on fuel prices, and thus be potentially damaging for fleets.

“Managers should not be surprised when pump prices rise,” said Mr Clarke.

“Oil is such a sensitive, volatile market.

“We saw price hikes of varying duration following the invasion of Kuwait, when Hurricane Ike hit Texas and after Chavez died in Venezuela.

“Anything upsetting the status quo in an oil-producing region, even a simple currency fluctuation, will impact prices.”

“Managers should not be surprised when pump prices rise…oil is such a sensitive, volatile market.”

Steve Clarke, The Fuel Card Group

Despite the forecast, Mr Clarke has advised fleet operators not to panic.

“Fuel prices occasionally fall for a while, but the historical trend is always upwards, as it is for everything else,” he added.

“The only sensible action is to ensure that you are always paying as little as possible for fuel in the first place.”

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