Fuel duty is set to increase by April next year after a freeze of 5 years comes to an end.
The review states fuel levels will rise from £27.4bn to £29.7bn in 2020/21 to keep in line with
Chancellor George Osbourne cancelled the price hike for his July budget due in September this year, but businesses are expected to feel the pinch with the annual increase starting from next April.
The Office for Budget Responsibility (OBR) announced the increase will take RPI from the current 1% to 3.2% by 2020/21.
In response to the increase, Howard Cox, head of FairFuelUK campaign said: "The bucket loads of independent economic evidence in front of the chancellor
Cox said the UK has already been subject to the most strenuous fuel tax in all of Europe, and an increase during times of low inflation is economic suicide. He believes the price will outrage millions of businesses and drivers and "put fiscal growth at colossal peril."
As millions have enjoyed lower fuel prices since the middle of 2014 in over a decade, business owners seeking to cut costs finally breathed a sigh of relief. Now with fuel costs skyrocketing, how can you better manage your vehicle running costs?
By investing in a telematics system, you can save thousands you would ordinarily spend on rising fuel prices and more some. Telematics is proven to slash costs by giving you control and a deep understanding into how your fleet operates.
Telematics gives fleet managers access to each drivers' fuel usage through effective dashboards and concise reports. These reports allow you to measure and
Telematics software highlights engine idling
Speeding, idling, accelerating and braking harshly are a real strain to the amount of fuel you consume annually, which can result in a huge knock to your profit margin. However, with the right tools in place driver
No matter how much fuel prices rise over the years, the percentage of savings businesses can make is always a substantial sum. It's the knowledge you acquire to make those all important changes that is of great significance to businesses.
Unlock better route planning
It's not just your team's driving habits you can control. When out on the road, a telematics device will show your drivers the ideal route they should take to cut time and fuel consumption. Taking the best routes to a job means less time wasted driving to and from locations, they're burning less fuel and spending more time with your customers.
Businesses with fleets usually see fuel as their biggest expense. A telematics device serves as an asset to your business offering detailed routing insights to drive running costs down. Telematics intelligence highlights any potential delays, and calculates an alternative route instantly. This means your drivers are always on the right track and not bogged down by unforeseen circumstances.
When your drivers have easy access to the quickest, most efficient routes every single day, you'll be able to actively
With fuel consumption controlled to a minimum, your savings will only continue to grow year on year.
Click here to speak to an expert on how to your fleet tracking system can reduce fuel costs.