The Road Haulage Association has welcomed transport Secretary Justine Greening’s call for fuel retailers to set up their own code of practice so consumers can monitor daily petrol or diesel prices.
“We are constantly highlighting the slowness of filling stations to lower their prices to correspond with the price of oil”, said RHA chief executive Geoff Dunning. “We have all seen pump prices shoot up when the wholesale price of oil is high but the corresponding drop in price when the wholesale price reduces can be painfully slow and pump prices often fail to reach the pre-price hike level. To hear Ms Greening say ‘for fuel retailers not to pass on cuts in the wholesale price of fuel is not fair and not acceptable’, is indeed music to our ears.
“We shall of course continue to fight to see the proposal of a 3 pence per litre increase in fuel duty on 1 August. But this latest initiative will go a long way to bringing some relief to all road users.”
However, Quentin Willson of FairFuelUK said: “It’s a bit rich for Ministers to try and deflect the issue of pump prices to the Oil companies and retailers. It is the Government themselves that takes a staggering 81.5p per litre in fuel duty and VAT on every litre sold. Worse still, the Government is sticking to its plan to add another 3.6p of combined fuel duty and VAT on 1st August. This move borders on the desperate.
“FairFuelUK has proved with independent research from the Centre for Economics and Business Research (CEBR) that it can actual cut duty and be no worse off. A cut of 2.5p per litre would create 175,000 new jobs, boost growth AND leave the Treasury no worse off due to the tax take on the economic growth. The solution to the fuel price crisis lies firmly inside the doors of Number 10 and Number 11 Downing Street.”