Soaring fuel prices have driven up the cost of operating heavy goods vehicles (HGV), according to the Freight Transport Association (FTA).

New research from the industry organisation revealed that increases in diesel costs alone pushed up the price of running a 44-tonne articulated vehicle by the equivalent of £1,900 per year in the 12 months to this April.

The issue is compounded by the amount of diesel duty charged by the UK government, which at 57.95p per litre is on average 24p per litre above rates levied across the rest of Europe.

This is putting UK carriers at a significant disadvantage against their European counterparts, the FTA argued.

Simon Chapman, chief economist at the FTA, said: "The high price of diesel is the number one concern keeping hauliers awake at night."

Earlier this year, the FTA criticised chancellor George Osborne for failing to abandon a 3p per litre increase in fuel duty, which is set to come into effect this August.

Improve the efficiency of your business and your fleet with the Texaco fuel card.

Posted by Matt Smith