HGV Insurance News | HGV News | Fuel price rises could spell disaster for HGV drivers

Fuel price rises could spell disaster for HGV drivers

The haulage industry is experiencing tough trading conditions in August, several haulage firms have been forced into liquidation. To compound the misery the government’s fuel duty escalator will see prices rise with an additional 2p per litre on fuel. This couldn’t come at a worst time for the industry, with falling revenues and the whole sector under pressure. The controversial fuel duty escalator has been a bone of contention for HGV drivers, as this has been linked to the fuel prices paid by car drivers.

The industry has long campaigned for removing the link between the haulage industry fuel prices and the forecourt costs for car drivers. Increased costs to haulage are felt across the entire commercial sector and passed onto consumers. This results in not only increased prices at the pump, but higher costs for goods and services across the country. The introduction of the fuel duty could bring an already weakened industry to it’s knees.

However there is some positive news, if you get an HGV insurance quote in August you can receive up to 40% off your HGV quote. Apply online and for any commercial vehicle from 7.5 to 44 tonnes you will save money on your existing Lorry Insurance quote.

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