Oil price rise pressurises freight haulage firms
Date: 17 October 2007
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The price of oil neared $88 per barrel yesterday (October 16), threatening to push fuel prices up further and make life more difficult for freight haulage drivers.
Increasing tension in northern Iraq, the weakened dollar and strong demand for oil around the globe resulted in the price of crude rising by $1.84 to $87.97, the Guardian reports.
The price of diesel in the UK has risen to more than £1 per litre, putting extreme pressure on logistics firms.
Freight haulage operators face an "appalling" situation, the Road Haulage Association said, especially since fuel levies were increased by 2p per litre at the beginning of this month.
At BP pumps, diesel is up to 100.3p per litre, compared to 97.5p a month ago.
When the 2p rise was introduced, the Freight Haulage Association pointed out ways in which the money - amounting to £1,500 per year for every 100,000 miles covered - could have been better spent.
For example, it would pay for two drivers to go on the Safe and Fuel Efficient Driver course, which could lead to significant cuts in CO2.
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