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haulage fuel price increase

UK Truckers Pray for End to Russian-Ukrainian War as Fuel Prices Soar

The ongoing Russian-Ukrainian war has caused havoc on more than just the political stage. The oil prices have reached a price of more than $100 a barrel for the first time since 2014, and this is reflected in the fuel prices at the pumps. In some parts of the UK, hauliers are paying as much as £1.70 per litre, which is going to impact the cost of haulage for all companies in the UK. British trucking would like to wish Ukraine well in its endeavors with fighting off the Russian army and hope that the crisis comes to an end soon.

Haulage Fuel Price Increase Will Impact Costs

As the prices rise at the pumps UK hauliers will not be able to sustain the costs of a haulage fuel price increase for long which could lead to an increase in distribution costs that will have a knock on effect for retailers across the UK. The haulage industry is urging the government to do something about the escalating fuel prices before it’s too late.

The hauliers are not the only ones feeling the pinch of this situation, as consumers are also starting to feel the effects of the war. The price of food has increased substantially over the last 2 years with the impact of the pandemic and now the Ukraine war crisis with Russia.

The government is still discussing ways to lower the fuel tax in order to keep control of pump prices, but these measures must be implemented immediately in order to avoid even more significant increases in fuel costs.

The UK imports just 6% of its crude oil from Russia, but the global wholesale prices are affecting the costs which are having an impact on prices at the pumps in Britain.

Nick Deal Road Haulage Association  Logistics Development Manager said: “It is simply a one way street at present as prices go up – and it is difficult to be certain how much they will increase in the current circumstances.”

“Also, this situation adds to inflationary pressures. It also provides added impetus to stopping the red diesel tax change, which we are campaigning for in the March Budget.”

Panic Buying Fuel

Over recent months the UK has seen long tailbacks at the pumps with people panic buying fuel due to the recent fuel tanker driver shortage. As prices start to rise again at the pumps many drivers are filling their vehicles to the brim trying to take advantage of fuel costs before the price goes up even more.

With the shortage of truck drivers now being tackled, hopefully, the fuel crisis will not be repeated, this caused chaos across the UK as the pumps ran dry.

Haulage fuel price increases certainly won’t help the current situation across the UK, so let us hope the war comes to an end quickly in Ukraine and the World can recover from the last 3 years of misery and hardship that has been felt by all.

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