Bt Fleet News
Fuel Costs Predicted to Rise
Increases in fuel costs of between 5p and 10p per litre by the end of 2010 have been predicted by the RMI Independent Petrol Retailers Association (PRA).
According to the group, the key drivers of price rises and price risks include the return of VAT to 17.5%, the planned inflationary increase along with a 1p per litre rise in April, the withdrawal of biofuel incentives, likely tax increases and the possibility of VAT rising to 20%.
Brian Madderson, Chairman of the RMI Independent Petrol Retailers Association, said: 'The predicted 10ppl rise does not take into consideration any increase in the world oil price, which is also a possibility and could add another 3ppl to 5ppl to forecourt inflation.'
Source: Fleet News