This week the UK's Spring budget statement was released by Chancellor, Rushi Sunak, which has come during a very interesting time for both the UK economy in general and the fuel industry more specifically.
In ordinary circumstances we might have expected fuel duty to remain high, in order to incentivise businesses to move to cleaner fuels and adopt alternative fuelled vehicles into their fleets, as the government is still very much committed to decarbonisation and switching to electric vehicles (EVs).
However, in this spring statement, we have rightly seen the UK Government follow other countries in reducing fuel duty, in order to keep the price at the pump from rising to the point that everyday life and business operations are affected further.
There was considerable pressure on the government to address the rising cost of living crisis and the pressure this will exert on both the general public as well as our customers and other UK businesses. We along with many in the sector welcome the news that fuel duty will be reduced by 5 pence per litre for the next 12 months – “the biggest cut to all fuel duty rates ever”.
Our goal is to make paying to refuel a fleet of vehicles as cost-effective and convenient as possible. This reduction in fuel duty helps our ongoing work in supporting our customers to achieve material savings through better management to help drive real efficiencies.
To learn more about our range of solutions that will help you to save time and money on your fuel expenses and suit your business’ needs, contact us.