Saturday, June 25, 2022

TRANSIT ISSUES Warning to buyers as companies say they WILL pass on rising cost of vans

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BUYERS could see empty shelves as companies say they will cut back on vans amid cost-of-living crisis.

A survey has found that higher fuel prices are putting pressure on businesses, meaning they are having to cut some deliveries to cut costs.

Despite the reduction in fuel tax, the price of diesel rose by an incredible 41 percent last year.

That means van drivers are spending an average of £870 a year more on diesel than in 2021.

Almost 40 percent of companies have to bear these additional costs themselves, leaving them with no choice but to reduce the number of drivers they use and the deliveries they make.

Consumers are also likely to bear the cost, with nearly a third of businesses expecting commodity prices to rise further this year.

Brits are already trying to cope with steep price increases as inflation hit a decade-high earlier this year.

GoCompare’s Ryan Fulthorpe confirmed fears of further price increases, saying: “Increased spending on diesel is already having a huge impact on commercial drivers and many of those costs are likely to be passed on to the broader economy.”

The van insurance expert added: “As we hope to find some relief from these increases, we encourage everyone to find cost-cutting measures where they can.”

This comes after Eon CEO Michael Lewis said Britons could suffer another year from the cost of living crisis.

The price of a full tank for the average van was £101.02 last year but the cost of living crisis and the war in Ukraine have pushed prices up with the same average tank now costing £142.71.

The average annual fuel cost per van is now a whopping £2992.54.

Some petrol stations have hit back at criticism of high prices, saying it’s “not their fault”.

Money-saving expert Martin Lewis recently urged drivers to look around their area to find the cheapest fuel, but it won’t be easy when even the cheapest petrol stations charge over 170p a litre.

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