High fuel prices reflect in bottom-line figure says RHA

Today’s news that budget airline Ryanair has seen a 29 per cent drop in profits as a result high fuel costs comes as no surprise to the Road Haulage Association.

“This is yet another example of the impact on industry of high fuel prices”, said RHA Chief Executive Geoff Dunning.

“It clearly demonstrates that no matter the size of company, the price of fuel has a dramatic effect on the bottom line figure. After several months of falling oil prices we are once again seeing a general upward trend in the price of fuel; the knock-on effect of which will, if it continues to rise, be catastrophic for the economy in general and for UK transport operators in particular.

“Of course the Chancellor’s decision to put a freeze on the 3 pence per litre fuel duty increase planned for 1st August is most welcome. However, it is essential that we as an industry now actively work together with HM Treasury to produce an effective long term fuel duty strategy rather than keeping our fingers crossed for yet another fuel duty freeze”.

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