Today’s news that the price of fuel has hit record levels comes as no surprise to the Road Haulage Association.
“The movement in the price of oil over recent weeks meant that our predictions for the price of diesel were grim,” said RHA Head of Communications, Kate Gibbs. “Today’s news that a gallon of diesel now costs over £6 means that the reality is far worse.
“Over a third of a haulier’s operating costs are eaten up by fuel. A 44 tonne artic/trailer combination will cover, typically 70,000 miles a year. At approximately 7.5 miles to the gallon this latest hike will leave many hauliers in the position where they will be seriously considering whether their future in the industry is still viable.
“If the Chancellor is still in two minds over any decision to announce a freeze on fuel duty on 23rd March, surely the decision has now been taken out of his hands. There MUST be a freeze and a long term solution MUST be found.
“The UK road haulage industry is the bedrock on which the rest of the economy is built. Without a profitable transport and logistics sector, the future for the economy looks very rocky indeed”.
Stepped-up clashes in Libya, including the bombing of key oil infrastructure, pushed up London oil prices on Wednesday.
Even as that took place Libya’s National Oil Corporation head Shukri Ghanem said national oil output had fallen by more than two-thirds, from 1.6 million barrels per day to just 500,000, cutting supplies of hard-to-replace light crude destined for European refiners.