Soaring fuel costs hit small businesses
Summary
Small businesses, especially haulage companies, are facing large extra costs due to rising fuel prices. Fuel prices have increased because of conflicts in the Middle East, making diesel nearly £2 per litre and affecting both companies and everyday drivers.Key Facts
- Noel Lewis, who runs a haulage company in Worcestershire, faces about £1,200 extra weekly in fuel costs.
- Diesel prices have reached their highest levels since 2022, averaging £1.92 per litre.
- The increase in fuel prices is linked to conflicts in the Middle East disrupting oil production and transport.
- The UK government extended a 5p fuel duty cut and offered a 12-month road tax holiday to help businesses.
- Smaller businesses struggle to compete with larger firms that can buy fuel cheaper in bulk.
- Some individuals have changed their habits, driving farther to find cheaper fuel or cutting other expenses.
- The RAC reports current fuel costs are like those during the start of Russia's invasion of Ukraine in 2022.
- The government promotes the Fuel Finder app to help drivers locate cheaper fuel options nearby.
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