Small businesses ‘hit hardest’ by rising fuel costs

With the price of petrol at a record high, the Federation of Small Businesses (FSB) is warning that small enterprises could ‘bear the brunt’ of escalating fuel costs.

Motorists in Oxfordshire are amongst those forced to pay some of the highest prices in the country. The average price of unleaded petrol here is now 103.4p per litre, while the cost of diesel has reached an average of 108.6p per litre.

Barry Wheatley, FSB chairman for the region, said: ‘Diesel prices are cutting into the margins of businesses and I can see that some firms will really be struggling in the next few months.

‘It’s an enormous jump on price in just a matter of weeks. If fuel prices stay the same some smaller businesses will think it is not worth the struggle to carry on.’

Despite the unrest felt by both businesses and private motorists, petrol blockades that took place towards the end of last year failed to make a substantial impact.

Industry experts are now warning that small firms across the country may be forced out of business if the upward pricing trend continues.

If you are concerned about the possible effect on your business’s cash flow, please do not hesitate to contact us.