Commenting on the announcement that the Government is to scrap the 3p increase in Fuel Duty that was planned for August, John Dowson, Head of Policy and Representation at the Derbyshire and Nottinghamshire Chamber of Commerce, has said: “Businesses and their employees have felt the pinch of rising petrol prices for far too long, so scrapping August’s planned 3p increase in Fuel Duty will provide some welcome respite to businesses and motorists.
“Any increase in the price of petrol has a huge impact on the economy, not just on businesses but on consumers too, because rising fuel prices reduce their overall spending power and also push up the cost of transporting food, goods and other products – more often than not, these costs are then passed on to the customer.
“Haulage companies in particular feel the pain as they compete with our EU neighbours, who pay much less at the pump than we do here in the UK.
“With the cost of living increasing all the time, scrapping this rise is a sensible move and will be welcomed by motorists and businesses that rely on their vehicles.
“And whilst the Chamber welcomes the fact that prices at the pump have come down over the past few weeks, it remains keen to ensure that any wholesale reductions in the cost of fuel continue to be passed on to consumers.”