The Road Haulage Association has called for fuel price cuts as the only way to get the country out of recession. It says that price cuts at the start of the year would almost certainly have enabled the UK to avoid slipping back into recession.

Following the news that the UK economy has shrunk, RHA Chief Executive Geoff Dunning commented, “If Government would heed our advice and address the issue of fuel duty once and for all, this is a situation that could almost certainly have been avoided.

“Users of petrol and diesel fuels are desperate to see a reduction in fuel duty. The price of a tank of fuel would reduce and the subsequent savings would be put back into the economy, giving trade the boost it so desperately needs.

“The barrel price of oil now stands at its lowest for quite some time. In addition, exchange rates are holding up well. Despite this, forecourt prices are still too high, with the margin on diesel having risen from 3.48 pence per litre in March to 7.65 pence per litre today. This is an increase of 123% or more than the August duty rise.”

It would certainly be nice to think that a cut in fuel prices would solve our economic woes, but running an economy might be a bit more complicated than that. Still, a fuel price cut would be very welcome