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Record oil costs force pump prices
Page 8
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OPERATORS FACE another hike in diesel prices after US oil prices soared to a 21-year high at $43.92 (£24.09) a barrel.
The rise comes after US officials warned of possible terrorist attacks and Yukos — one of the world's largest oil producers — was ordered to stop selling oil as it faces bankruptcy.
John Evans, who runs John T Evans, South Wales, has seen his fuel prices soar by nearly 3p over the past month to 67.7p/lit ex-VAT "We implemented a rate increase last month to cover the increasing costs of driver wages and insurance, but the price of fuel has outstripped any benefits," he say& Paul Hampson from Hampson Haulage says its fuel bill is now £550 a week more than it was a month ago.
Freight Transport Association chief economist Simon Chapman says: "The only saving grace has been the strength of sterling against the dollar over the past few months, which has protected us from some of the price increase."