Highest oil prices - ever.

Fuel duty rises – again

Published:  06 October, 2010

KENT: The Freight Transport Association has accused the Government of a "smash-and-grab approach" with a fuel duty increase that adds 1p to a litre of petrol and diesel.

The FTA said above-inflation tax hikes since 2009 meant the freight industry faced "a disproportionate burden in narrowing the public sector deficit".

Simon Chapman, the FTA's chief economist said the rise would add £125m more a year to transport industry bills.

"With another rise due in January and above-inflation rises set for the next three years, many businesses hit by the recent recession will feel like they are on borrowed time," he said

"The price of oil is the highest it's been for three months and is set to rise further as we come into the autumn peak period of oil demand.

"With economic recovery still so fragile, now is not the time to compound the problem with artificial price hikes," he said.

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