Small businesses affected by rising fuel costs, business group reveals

Following the news that both petrol and diesel prices have increased considerably, the Federation of Small Businesses has revealed that many small firms are being affected by rising operating costs.

10 Jan 2018

Following the news that both petrol and diesel prices have increased considerably, the Federation of Small Businesses (FSB) has revealed that many small firms are being affected by rising operating costs as a result.

According to figures published by the government, December saw prices for petrol and diesel rise to their highest levels since 2014.

Petrol prices rose to 121.11p at the end of last year, whilst diesel prices reached 123.46p.

The increases can be partly attributed to a rise in the cost of oil. Commenting on the issue, Simon Williams, Fuel Spokesman for the RAC, said: ‘December was the month oil reached its highest point for over two and a half years – something which motorists are now feeling the effect of at the pumps.’

The FSB found that the proportion of its members reporting a rise in operating costs is at its highest in five years. Nearly a third of these members stated that fuel costs are a main contributor to the rise in operating expenditure. 

Mike Cherry, National Chairman of the FSB, said: ‘Affordable travel on roads is absolutely vital to the success of small businesses and local economies. That’s why it’s critical that the fuel duty freeze set out in the Autumn Budget is continued in the future.

‘Over the coming year, we look forward to the government doing its utmost to help small firms battle the rapid rise in operating costs. Where vehicles are concerned, that also means taking a hard look at the ever-increasing Insurance Premium Tax (IPT).’ 

Try a site search

About us

Ling Phipp was founded in 1974 and nowadays has two partners, six managers plus trainees and support staff.

We serve clients in the East Midlands and all over the UK. Our out-of-town location, with easy parking, close to the M1 junction 25 (Nottingham/Derby - A52), is very convenient.

Company details

0115 949 6838

Ling Phipp, Cliffe Hill House, 22-26 Nottingham Road, Stapleford, Nottingham NG9 8AA


© 2018 Ling Phipp. All rights reserved. We use cookies on this website, you can find more information about cookies here.

Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk, under reference number 6424855. This is the firm number provided by the Institute of Chartered Accountants in England and Wales.