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Record oil price is putting severe pressure on businesses to pass on costs

16/04/08 | 11:12

Commenting on the rocketing price of Brent crude oil, the British Chambers of Commerce, said:

"With the price of oil now over $112 a barrel, pressure on vehicle dependant businesses is becoming increasingly severe. Businesses are not going to be able to hold off passing on the added costs to their customers for much longer.

"The government needs to act and act now. Announcing that they will scrap the next 2p per litre hike in fuel duty, planned for next October, will send a positive message to hard up businesses and is the right course of action."

Ends

Media Contacts:

Nick Dines
Tel: 020 7654 5812
Email: n.dines@britishchambers.org.uk

Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk

Notes to Editors:

The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.

Other related links: $100 oil price further undermines Treasury's case to increase fuel duty in April
[20/02/08 15:25]

Commenting on the price of oil hitting $100 a barrel yesterday; Record London oil price must make Chancellor recognise need to scrap April's 2p rise in fuel duty
[07/03/08 14:05]

Commenting on the price of London oil reaching a record high of $102.98 per barrel

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