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Petrol price calamity

It was panic stations for fleets and motorists this week as a major motoring association warned of devastating rises in petrol pump prices in coming months, the first of which may happen as early as the August Bank Holiday weekend, taking petrol prices past the £1.20 per litre mark.

The doom and gloom message from the Retail Motor Industry Independent Petrol Retailers Association (RMI Petrol) was that the cost of petrol could leap as much as eight per cent over the coming months, with price increases of three per cent expected over the Bank Holiday break.

There are many factors for these rises: world oil price increases, currency movements, rises in VAT, and last but by no means least, the planned fuel duty rises in October and January.

This is another huge blow for the fleet industry and struggling businesses who MUST drive to function and for whom these price hikes may have the most serious impact.  The problem is that when fleets’ operations are hit, this has a knock-on effect on our deliveries and services in general, meaning we will all feel the fall-out.
On Tuesday, concerned Scottish Liberal Democrat leader Tavish Scott MSP called for the UK government to cut fuel taxation. Speaking to the BBC, he said: “Island and rural Scotland depends on the car, lorry and in a couple of weeks, the school bus.

“A surge in petrol prices forced by speculators and rich oil barons across the world is the worst economic news for Scotland.”

The Fuelcard Company is currently campaigning for the reduction or abolition of fuel duty for commercial vehicle drivers to ease the burden of fuel prices both on the businesses they drive for and our economy as a whole.

Our national petition is fast gathering support, please sign it and share it with your colleagues/customers: www.fuelcard-roadshow.co.uk

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