Fuel rises could eventually signal the end of the world, but for now they’re just threatening wage freezes and jobs.
The Federation of Small Businesses carried out a poll of 400 members following recent VAT and fuel duty rises, and found that a quarter of businesses insisted that wages must be frozen and with ten percent saying they job cuts will be the only option if costs continues to rise.
Figures from the AA show petrol at a record high of 128.7p a litre this month, with the cost of diesel 133.01p.
Neil Poole, from the Federation of Small Businesses, told Sky News: ‘The next six to 12 weeks are going to be a real concern for some businesses as clearly everyone is looking to manage their costs as well as they possibly can.
‘Obviously with the fuel price increases it's very difficult to purchase fuel at a cheaper price so they're having to try to absorb them and cut corners in other areas of the business.’