Cost of bulk diesel will remain sky high for rest of the year
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THE COST OF bulk diesel will continue to smash records for the rest of the year, the Road Haulage Association (RHA) warns, as fuel prices hit a new high of 117.6ppl.
Following the Chancellor’s failure to cut fuel duty in this month’s Budget, bulk diesel has now breached the long-standing record price of 115.43ppl set in April 2011. Nick Deal, logistics development manager at the RHA, says: “I don’t see the bulk price of fuel going down anytime soon.
“It could be 120ppl by August as the rise in fuel duty kicks in. In regards to it going up further after that, I wouldn’t [rule out] anything.” Deal says that because of the increased cost of fuel, haulage companies are paying £151 more a week per truck, compared to October 2010.
“Fuel has risen 20.18% since October 2010 and, depending on the type of operation, fuel can be anywhere between 30% and 45% of whole vehicle running costs,” Deal says.