Business Insurance - High fuel prices 'are hindering economic recovery'

Road Haulage Association chief executive Geoff Dunning has claimed the ongoing high cost of petrol in the UK has played a major role in the country slipping back into recession.

He made his comments following the publication of data from the Office for National Statistics, which revealed UK gross domestic product fell by 0.2 per cent in the first quarter of the year.

"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," Mr Dunning commented.

He added that all fuel users are desperate to see a reduction in pump prices, while the scrapping of the incoming rise in fuel duty would also go a long way towards helping businesses and members of the public to cut their future fuel costs.

Earlier this month, Mr Dunning argued that despite the prospect of a possible fuel tank driver strike, Brits should not panic buy, as this will only make the situation worse for everyone.

If you're looking for cover for your business, speak to the business insurance team at Performance Direct - one of the UK's leading specialist insurers.

We are proud to be a Chartered Insurance Broker. Only around 5% of the UK’s broking firms achieve this prestigious status. Also, we have been a BIBA Member since 2007, the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries, and their customers.

We provide insurance services to UK residents only.

Rated as excellent on Trustpilot with over 14,000+ reviews

Trustpilot

Benefits of our Insurance Policies

  • FREE legal cover

  • Courtesy van

  • Foreign use cover (up to 90 days)

  • Flexible payment options

  • 24 hour claims service 

  • UK call center

  • Online access to policy documents available 24/7

  • Wide policy coverage

We are proud to be a Chartered Insurance Broker. Only around 5% of the UK’s broking firms achieve this prestigious status. Also, we have been a BIBA Member since 2007, the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries, and their customers.

Rated as excellent on Trustpilot with over 14,000+ reviews

Trustpilot

Why choose Performance Direct?

  1. The peace of mind of a Chartered Broker. Everything we do is backed by a team of skilled, experienced insurance professionals. We’re a Chartered Insurance Broker, a family company with a proud 40-year history, so we’re bound by a personal and professional code to deliver the best service for our clients.                                                                                                                                                     
  2. We’re independent. Because we’re not tied to any brand or product, we can search the insurance market to find you the best policies­. Whenever you ask for a new or a renewal quote, we search a panel of leading UK underwriters to ensure you get the lowest price and the best cover.                                                                               
  3. We’re on your side. If you need to make a claim, because we’re completely independent, we work with you to sort everything out and to make sure your claim is paid. Whether you need to sort out a hire car, arrange a new windscreen or need to make a liability claim, we are here to help assist you when you need us.                                                                                                                                                         
  4. Here for you. With a dedicated account managed team, we are here to support our clients every step of the way.                                                                                                                                                                                                       

Combining the advantages of the latest technology with real world experience, Performance Direct promises the lowest prices with the most efficient service.