Insurance News Archive
Business struggles with petrol costs
Businesses will have to pass on the cost on fuel rises to consumers, a business group has claimed.
Ian Williams from the Leeds Chamber of Commerce explained in an interview on BBC One's Look North that prices may be pushed up as petrol prices reach record highs.
Mr Williams said: "It's likely that business cant absorb all those costs itself, so it will have to pass it on to the consumer.
"Sixty per cent of all trade in this country is moved by road so that means it will impact on everyone in the marketplace."
He added that the rise in fuel prices was not the only pressures firms are facing, with rises in utility bills soaring too.
"Business will try and cope the best it can, but not everyone can budget for the tremendous rises that weve seen in the last few weeks."
With pressures on business the need for good value commercial vehicle insurance is augmented.
11 Aug 2006