Fuel cost to rise
As per my earlier post it would seem that we in the UK can expect significant rises in both petrol and diesel before the end of the year.
Blame is not being aimed solely at the oil prices as normal, but focus has once again shifted on the petrol retailers and the Government.
Firstly, there has been a steady increase in the wholesale cost of the fuel, which despite modest rises in the oil price, we have also seen a weakening of the dollar (US$) to conteract this. But apparently, retailers are having to buy fuel at increasingly higher rates and therefore passing it straight on the the public.
Secondly, the Govenment seems likely to press on with plans to increase fuel duty by £0.02 per litre on the first of September 2009 and with VAT returning to its previous rate of 17.5% from 15%, this likely to add another 1-2p per litre. Then a further rise of another 1p in April 2010.
Just Drive less and save the financial pain
This must have been a difficult choice descision at this time of a fragile economic outlook, early signs of recover and yet business’ will be hit by these rises, not to mention the public. But we need to remember that we can easily off-set these rises by DRIVING LESS! or at least driving slower, or in smaller more fuel efficient vehicle.