Pressure group FairFuelUK (FFUK) has called on the UK’s decision makers to make better use of technology in reducing road transport emissions further, rather than using the blunt instrument of increased taxation. FFUK was responding to a recent report, The unintended consequences of freezing fuel duty, written by former government transport advisor Professor David Begg on behalf of Greener Journeys. The report, which calls for a fuel duty increase, claims the government’s seven-year freeze has caused an extra 4.5 million […]
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 […]
The Chancellor turned his back on the road transport industry in the Budget, announcing August’s 3.02ppl increase in fuel duty will stay. MT takes a look at the economic case against this decision. The price of bulk diesel has climbed 18.9% in the past 18 months, to reach a record high of 117ppl. Meanwhile, companies have continued to go to the wall, with Hull-based AR Lunn the latest failure. Predictably, rising fuel costs were a main reason why 115 employees […]
The chancellor has been criticised for not being bolder after he elected to freeze fuel duty in today’s Autumn Budget.