SOARING FUEL PRICES A THREAT TO RECOVERY

SOARING FUEL PRICES A THREAT TO RECOVERY

Fresh from the shock of hearing this week that the UK’s economy is still not in recovery motorists and businesses now face another devastating blow – rising fuel prices.

With petrol rocketing to a record high of £1.28 a litre and diesel reaching nearly £1.33 a litre, pressure is growing on the Government to act.

The Coalition Government is being urged not to go ahead with a planned increase in fuel duty in April’s budget and instead honour an election pledge to introduce a fuel tax stabiliser.

Joining the debate is Dragon’s Den winner Adam Weaver, founder and managing director of Proppa, the leading online niche vehicle accessories business.

Adam said: “These crippling fuel prices will literally stop a chunk of the population in their tracks – there is already evidence that people are using their vehicles less often because they can’t afford to fill up.

“Former Transport Minister Steve Norris once said: ‘If the wheels ain’t turning, you ain’t earning” but this phrase now rings hollow as fuel prices are prohibitively high and still rising.

“It would be a travesty if the Government ploughs ahead with the planned increase in fuel duty in April. If they want to keep UK Plc going, they need to bring in a fuel tax stabiliser and a fairer system.

“Both diesel and petrol prices have gone up by more than six pence a litre in just one month – that’s a huge threat to businesses and the UK’s recovery.”

Adam has fitted the whole of his company’s fleet with a device, the PSI Powerbox, that can significantly enhance engine efficiency and save up to 20 per cent on fuel bills.

He has reported a rise in interest from customers in the plug-in device, which takes only 10 minutes to fit and works by boosting engine speed. He is retailing them at £337.50.

Figures including London Mayor Boris Johnson and television presenter Quentin Wilson have joined the call for a fuel tax stabiliser, and AA President Edmund King has warned that “many drivers cannot afford to fill up”.

Transport Secretary Philip Hammond has admitted soaring fuel prices are “a problem” for motorists, giving hope to campaigners for a fuel tax stabiliser.