British Logistics Firms See Another Fuel Hike
US freight companies are always concerned about the price of fuel, but they should be lucky that they are not operating in the UK. The Conservative government has added a number of costs that are hitting British logistics companies. January 1st sees a rise in fuel duty, which will add to the costs of a previous fuel duty rises in 2010 and a 15 percent increase on the cost of new vehicles.
The increase of 0.76 pence per liter is the third rise since April 2010 and will nudge diesel prices to close to the all-time highs reached in July 2008 when oil prices climbed to $145 per barrel. The British Freight Transport Association (FTA) has reported that the increases will add £3,800 (US $5900) per year to the bill of running each vehicle.
Currently a liter of diesel in the UK is £1.28 (US $1.98), which for US readers is the equivalent of $7.49 per gallon. (1 US gallon = 3.785 liters). In comparison the average price for a gallon of diesel in the US on 12/27/10 was $3.24.
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