Diesel duty: don't add to industry's woes warns FTA
The Freight Transport Association has told Exchequer Secretary Angela Eagle that she must abandon plans to increase fuel duty by 2 pence per litre from 1 October 2007.
Since the end of January 2007 bulk diesel prices paid by hauliers have risen by over 5 pence per litre as world oil prices have soared from $60 per barrel to $76 per barrel – less than $2 shy of their all-time high. Fuel costs alone have raised annual operating costs for a 40 tonne artic by £2,300. With 30 per cent of hgv operating costs fuel related, industry is seeing its road transport costs spiralling at an annual rate of over 5 per cent from this cost element alone.
