- 6th June 2018
- Posted by: Suzy Hill
- Category: Business News
Rising fuel prices adversely affecting UK businesses
The motoring industry has warned that rising prices for both petrol and diesel are adversely affecting UK businesses.
Data published by the RAC revealed that, during May, petrol prices rose by 6p per litre – representing the ‘worst monthly rise in at least 18 years’.
Meanwhile, the average price of a litre of diesel also rose by 6.12p, constituting the ‘second worst rise’ since the beginning of 2000.
Fuel prices have risen ‘every single day since 22 April’, the RAC found.
It stated that the cost rises can be attributed to a combination of rising oil prices and a weaker pound, and will ultimately affect businesses and individuals alike.
Commenting on the issue, Simon Williams, Fuel Spokesman at the RAC, said: ‘The rising oil price, together with a weaker pound, is a punitive combination for anyone who drives regularly.
‘For many people, there is little alternative to the car for the majority of journeys they have to make, so it is therefore very difficult to avoid feeling the pinch of rising pump prices.’