The mixed traffic flow of connected and automated vehicles (CAVs) and human-driven vehicles (HDVs) will exist on highways for a long time, as the deployment of CAVs is gradual. To reduce the negative impact of HDVs on CAVs, the deployment of dedicated lanes has been considered an effective solution. Along with the dedicated lanes, three different lane management strategies will be formed, which are (C, H) strategy (CAVs dedicated lanes and HDVs dedicated lanes), (C, G) strategy (CAVs dedicated lanes and general lanes), and (G, H) strategy (general lanes and HDVs dedicated lanes). To evaluate the influence of dedicated lane settings on mixed traffic flow comprehensively, this paper proposes a framework for evaluating road segment efficiency and fuel consumption by considering lane management strategies. First, the possible traffic flow equilibrium states under three lane management strategies are discussed, and the characteristics of five car-following modes in mixed traffic flow are analyzed. Then, a mixed traffic flow capacity model considering platoon size is introduced to the traditional BPR function to establish a speed estimation model for mixed traffic flow and a fuel consumption estimation model for mixed traffic flow. Next, the traffic flow distribution model at the lane level in a steady state is derived for different lane management strategies. Based on the traffic flow distribution model, the speed estimation model and the fuel consumption estimation model for mixed traffic flow, which consider lane management strategies, are proposed. Finally, a numerical simulation is conducted to analyze the effects of different lane management strategies and configuration schemes on road segment efficiency and fuel consumption. The results of numerical experiments show that (1) at the same traffic demand, the operational speeds of vehicles under the (C, H) strategy and (G, H) strategy tend to increase and then decrease with the increase in the penetration rate of CAVs. While the speed of the vehicle under the (C, G) strategy increases with the increase in the penetration rate of CAVs. (2) Compared with the baseline strategy, all three management strategies can improve the operating efficiency of vehicles under certain traffic conditions. (3) At the same traffic demand, the average fuel consumption under the three strategies tends to decrease first and then increase slightly as the penetration rate increases. Increasing the number of dedicated lanes under specific traffic conditions can significantly increase the fuel consumption reduction rate under each strategy. At the same penetration rate, this advantage diminishes with the increase in traffic demand. (4) The increase in platoon size favors the efficiency of vehicle operations under different strategies. However, as platoon size increases, the marginal benefit of increasing platoon size becomes smaller and smaller. In addition, the average fuel consumption of vehicles has a low sensitivity to platoon size, and increasing platoon size may not always reduce fuel consumption.