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09 January 2018

Rising fuel prices add to operating cost surge for small firms

Responding to the announcement that the price per litre of petrol (£1.21) and diesel (£1.24) are at their highest since December 2014, Mike Cherry, Federation of Small Businesses (FSB) National Chairman, said:

“The proportion of our members reporting a rise in operating costs it at its highest in five years. Almost a third say fuel prices are a main cause of that increase, up from less than a fifth at this time last year.

“Affordable travel on roads is absolutely vital to the success of small businesses and local economies, particularly in rural areas. That’s why it’s critical that the fuel duty freeze set out in the Autumn Budget is continued in future. 

“Over the coming year, we look forward to the Government doing its upmost to help small firms battle the rapid rise in operating costs. Where vehicles are concerned, that also means taking a hard look at the ever-increasing Insurance Premium Tax (IPT).

“Diesel vehicle owners are set to be hit with significant additional costs once forthcoming Clean Air Zones are in place. We need to see the Government step up support for the many small firms looking to play their part in improving air quality by switching to cleaner vehicles.”