Diesel & Petrol continued to rise this week, amid calls from the industry for the government to step in. In what was the biggest daily jump in 17 years, diesel rose to 186.57ppl. Some forecourts on Wednesday were selling fuel for more that £2ppl.
RAC fuel spokesperson Simon Williams said the accelerating costs of forecourt fuel was “unprecedented”, adding it appeared prices were “still some way from the peak”.
The price is being partially driven amidst the war in Ukraine and other macro-economic factors. There seems no light at the end of the tunnel for Hauliers who have taken the brunt of the increases in their variable operating costs. As many companies have no option but to pass the costs onto their customers, increased fuel costs are being considered as the key driver for inflation.
Boris Johnston today promised action on the cost-of-living crisis and was keen to point out the government will take action on any fuel retailers not passing on reductions in duty to motorists. Whether there will be further reductions in fuel duty remains to be seen.
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