The price of fuel has little effect on the profitability of logistics companies and isn’t the primary cause of failures in the industry, the Motor Transport Directors’ Club was told last month. Speaker John Manners-Bell, chief executive of Transport Intelligence, told the gathering of the most senior people in road transport that there was a high correlation between freight rate increases and fuel price increases – meaning that operators were being successful in passing high costs on to customers. “This […]
Jack Richards and Son boosted turnover by 14% and pre-tax profits by 7% in 2016, aided by stable fuel prices and an efficiency drive.
Fuel duty will be frozen for the next 12 months, revealed Chancellor George Osborne in today’s Budget 2014, despite industry calls for a much-needed reduction.
FairFuelUK (FFUK) is calling for an investigation into the UK fuel market. FFUK wants the Office of Fair Trading (OFT) to take the issue on, after a report commissioned for G20 Finance Ministers warned oil traders may have been artificially inflating wholesale prices. It also wants the financial regulators to look at whether traders and speculators have, in the style of the banks and the Libor rate, “fiddled” the benchmark trading price for oil. In a statement the campaign group […]