The UK’s road transport operators are calling on the Chancellor to address the issue of high duty levels on fuel in next month’s Budget as prices approach an all-time high.
According to the Road Haulage Association’s latest weekly fuel survey on 25th February, diesel is less than one penny off the all-time high price yet the price of Brent oil is only slightly above the average for the 12 twelve months.
“This is, quite simply, down to the dip in the exchange rate,” said RHA manager of Logistics Development, Nick Deal. “According to the Financial Times, the exchange rate has hit a two-year low of just under 151 cents.
“Following on from last week’s announcement that the UK credit rating has been downgraded, the Pound continues to fall. To help the industry to make the profit that is essential to survival, if ever there was a time for the Chancellor to act on fuel duty, that time is now.”