Fuel card news: Tax hikes 'will wipe out fuel price cuts'
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18 August, 10 Any efforts by retailers to reduce the price of petrol and diesel are likely to be undone by impending fuel tax and VAT hikes scheduled for October and January, an expert has warned. RAC motoring strategist Adrian Tink responded to news that some outlets could be lining up a price war by admitting any benefits to motorists are only likely to prove temporary, with the impact of increased duty set to bite in the new year. "It's good to see another drop in the currently sky-high petrol prices and we hope other fuel retailers will follow suit," he explained. "However, this is only likely to be short-term respite." Mr Tink claimed the three tax increases will combine to add an extra 5p to the average litre of petrol and diesel in the UK. Earlier this week, fuel retail industry body RMI Petrol sent a letter to prime minister David Cameron urging action on prices, warning that current costs could have a negative effect on the fragile economy. Improve the efficiency of your business and your fleet with the Shell fuel card. Posted by James Richmond  |
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