LETTER OF THE WEEK
Page 16
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Too late fuel review won’t focus on bigger picture
ALONG WITH THE nation’s business leets, we welcome today’s news that the Ofice of Fair Trading (OFT) is to gather evidence into fuel prices (Commercialmotor.com 5 September).
It’s interesting to note, however, that this review will not cover any aspect of fuel tax, which in real terms makes up over 60% of the inal price of fuel, compared with which the retailer margin is minimal.
Through fuel cards, our customers have access to wholesale fuel prices, yet fuel still accounts for up to 30% of a leet’s total operating cost. With pump prices continuing to rise, the transport sector will surely crumble if support is not provided.
Campaigners such as FairFuelUK have worked tirelessly to lobby to reduce fuel duty and, while all support in reducing the overall price of fuel is welcome, perhaps this review is really distracting us from the bigger issue of how the government should be helping the transport sector through reduced taxation.
The results of the OFT report [and whether it is to ultimately launch an investigation] are due in January, conveniently after the chancellor has introduced his 3p per litre fuel tax rise. In my opinion, the OFT review is too little, too late and not focusing on the bigger picture. Jakes de Kock, marketing director, The Fuelcard Company