Shiply Welcomes OFT Investigation into High Fuel Prices

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Shiply.com, the online transport marketplace, welcomed the Office of Fair Trading’s investigation into the current near record high fuel prices.

man with a van

Shiply

Shiply today welcomed the OFT’s investigation into rising fuel prices, amid fears that reductions in crude oil prices are not being passed onto motorists.

The UK average petrol price is now 139.71p a litre, 3p less than the record high of 142.48p reached in April 2012. Diesel now costs an average of 143.98p a litre, compared with the 147.93p record in April 2012. Both diesel and fuel prices have risen significantly since the summer low of 130.81p a litre for fuel and 136.12p for diesel on July 1.

Robert Matthams, Managing Director of Shiply.com, which has 55,000 courier and haulage companies as members, considered the recent increases in fuel price to be “unjustified”, given the prices of crude oil have gone down in the recent weeks.

“It is a common trend that when oil prices go up, so do fuel prices. However, when oil prices go down, fuel prices do not follow quite so closely, which basically means more profits for refinery firms and more unjustified costs for motorists and haulage companies,” he said. “This will affect the UK haulage industry as a whole because drivers from abroad can offer more competitively priced services since they enjoy a much cheaper fuel price.”

In August 2012, the UK’s diesel price was amongst the highest in Europe at €1.71 equivalent per litre, considerably more expensive compared to the majority of Europe. Across the border, French drivers were paying €1.40 per litre of diesel, 18.1% less than UK drivers. This means for a truck running 12,000 miles per year, a UK driver would have to pay nearly £1000 more in fuel than a French driver.

“We highly welcome this investigation from the OFT and expect favourable results for motorists who are already struggling to keep up with high fuel prices,” said Matthams. “Fuel cost directly affects the profitability of couriers and haulage companies. Given the increasing competition from EU drivers, we really need a fairer fuel price to make sure our drivers can be competitive and at the same time profitable.”

About Shiply
Founded in 2008, Shiply matches people needing to move goods with transport companies going there anyway. Over 25% of lorries run completely empty of cargo and over 50% run only part-full. By enabling consumers and businesses to make use of this spare capacity, Shiply.com dramatically cuts down on CO2 emissions, increases the profitability of transport companies and saves the consumer up to 75%.

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Robym Clark
Shiply
+44 (0)207 193 3970
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