Business owners in Burnham-On-Sea and Highbridge say a planned 5p cut to fuel duty does not go far enough to combat soaring prices.
Petrol and diesel prices in the UK are at an all-time high, meaning many drivers are feeling the pinch.
Chancellor Rishi Sunak announced the cut in his spring statement on Wednesday, but some firms say it doesn’t go far enough.
Stuart Keedwell, pictured, who runs Highbridge haulage firm RT Keedwell Group, says he has been impacted and has had to increase his rates to his customers by 10% this year because fuel “is such a large part” of his costs. He believes by next week the prices will be back up to the same level again.
“The 5p cut is very welcome and I also understand it is the biggest cut they’ve ever made, but if we go back to January and compare it to today – our fuel bill has gone up over 40p a litre,” he says. “5p is nowhere near the increase we’ve seen since the start of the year.”
Dave Regan, who runs Saints Taxis in Burnham-On-Sea estimates his fuel bill will rise by £3,000 per vehicle this year, making a total of £9,000 for his three cabs.
He says he cannot change his fares – as they are set by Sedgemoor District Council – so instead his business is having to absorb the higher costs.
“There’s never been a great deal of profit in the taxi trade,” he says. “But with the increase in fuel, the increase in parts that you have to pay to keep them serviced, it reduces your bottom line.”
“There comes a point where you would ask yourself – is it viable or should I go and drive for Asda delivering food?”
Pictired: Top, Stuart Keedwell from RT Keedwell Group, and above, Dave Regan, who runs Saints Taxis in Burnham (ITV)
