FTA: operators not fully benefitting from 53% cut in bulk oil costs


 

The FTA met with the Treasury last Thursday (5 February) to discuss the real effect the plummeting cost of oil was having on the freight transport sector. Despite lower oil prices benefitting hauliers “to an extent”, the FTA said most operators are not seeing the 53% fall in bulk prices passed on to them because fuel duty, at 57.95ppl, is negating these savings. It added that because oil is traded in dollars, the weaker pound also dampened the effect. However, […]