The Road Haulage Association (RHA) has blamed the high cost of fuel for pushing the economy back into recession. After it was revealed April 25 the UK economy had declined by 0.2% in the first quarter of 2012, RHA Chief Executive Geoff Dunning said the situation could have been avoided.
“This news is not unexpected,” he said. “If the 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.”
Dunning said savings made on a tank of fuel would be pumped back into the economy, boosting spending and increasing trade.
He added “The barrel price of oil now stands at its lowest for quite some time. Exchange rates are also holding up well. Despite this, forecourt prices remain too high. Tackling the issue head on is the only way to see an increase in GDP in the next quarter.”