“We must insist on a profit” says RHA

Published: 06 March 2013

“We must insist on a profit” says RHA
There are big profits in the oil and money markets, and, as a result of the falling rate of Sterling, fuel prices are rising, but UK’s road transport operators - essential users of fuel – still have the right to expect a profit.
According to the RHA’s own weekly fuel survey, dated 25th February, we are less than one penny off the all-time high price of diesel yet the price of Brent is only slightly above the average for the past twelve months.
“This is, quite simply, down to the dip in the exchange rate,” said RHA Manager of Logistics Development, Nick Deal. “According to today’s Financial Times, the exchange rate has hit a two-year low of just under 151 cents.
“Yes, demand pricing for diesel is up slightly, along with the Brent oil price, but the sudden exchange rate dip makes it all the more important that hauliers should insist on a profit even if the situation gets worse”.
“Following on from last week’s announcement that the UK credit rating has been downgraded, the Pound continues to fall. To help the industry to make the profit that is essential to survival, if ever there was a time for the Chancellor to act on fuel duty, that time is now.”

Note: Every 5 cent loss on the dollar/pound exchange rate adds approximately 2 pence to the price of a litre of diesel.
SOURCE: rha.uk.net
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