Petrol Price Rise Costs Business Extra Pounds 134m
Posted on: Friday, 6 January 2006, 18:00 CST
By DAVID WILLIAMS
SOARING fuel and congestion charge costs are hitting firms' profits hard.
Two thirds of leading finance directors now rank the cost of petrol and diesel as a major concern, compared with fewer than a third a year ago, new figures reveal today.
In the past year petrol has rocketed nearly 10p a litre to an average 88.7p.
Diesel has shot up by 7.5p a litre to 92.3p.
The rise has cost business - which runs about 1.3 million company cars - an extra Pounds 134 million over the past 12 months, says vehicle management company LeasePlan.
A firm running 100 Audi A4 1.9-litre diesel cars, each covering 15,000 business miles a year, is paying at least Pounds 10,000 a year more for fuel than 12 months ago.
"It is wrong to think only the haulage industry is affected.
The UK economy as a whole is feeling the pinch," said Lease- Plan's Kevin McNally.
One in four finance chiefs think road charging will also have a serious impact on business, up from 14 per cent a year ago. Mr McNally said: "Though road pricing schemes can reduce the volume of traffic, they can also create an additional financial burden on the business community."
Source: Evening Standard; London (UK)
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