Fuel prices risen by nearly 25% since 2010, says Road Haulage Association

The overall price of fuel has risen by almost a quarter in just 18 months, the Road Haulage Association (RHA) has stated.

In a question and answer session, the organisation said that since the start of 2010, petrol prices rose 20.6% in duty and commercial rises, however the figure is close to 23% when the recent rise in VAT is considered.

The survey showed the diesel average as 93.96ppl excluding VAT whilst forecourt prices for the public were 113.70ppl inc VAT at the lower 17.5% rate.

Bosses at the RHA also suggested that the weakening of the pound has led to a lot of the problems.

They claimed the UK was better equipped to cope with the high value of oil in 2008 because sterling was stronger than it is now.

Further increases are expected in 2012, with duty set to go up in January and also in August, which is bad news for the haulage sector, as fuel generally makes up a third of the overall running costs for truck drivers.

Recently, RHA chief executive Geoff Dunning called for the government to scrap the proposed increase in fuel duty.

Skipton Business Finance has funded a range of different haulage companies in a variety of many ways and given access to funds through flexible invoice factoring and invoice discounting solutions. Whilst we can't change the amount a litre of fuel costs, we can help ensure that there are no cash flow issues within a haulage business simply by securing finance against unpaid invoices.

This has allowed businesses to pay their drivers, ensure a healthy VOSA standing and to diminish the worry of paying fuel expenses without the stress of waiting until the next invoice is paid.

If you're a haulage company and would like more information on how we can help fund your business, please call us now on 0845 602 9354 or use our online form to receive a quote.