Sunday 23rd Oct 2016 - Logistics Manager

Diesel duty is frozen

The Chancellor’s Budget statement has been announced, with the welcome news that diesel duty will be frozen until September.

According to the FTA, fuel costs represent over 30 per cent of the operating costs of lorries and during the last twelve months the bulk price for diesel has risen by 10 per cent.

FTA chief economist Simon Chapman said: “It was very important that the Chancellor did not add to industry’s enormous fuel costs by further increasing diesel duty. However, it is unfortunate that he did not bite the bullet and extend the freeze for a full year and thus establish a little more stability into transport operating costs.”