Cheltenham taxi drivers have admitted considering giving up their jobs due to the rocketing prices of petrol.¬†Over the past month unleaded petrol has risen by 5p a litre, at 138.32p, whilt diesel has also jumped by 4.78p over the same time frame, not at 145.10p. It has been admitted by taxi drivers that these costs have actually made a number of them begin to consider finding a brand new career. High petrol prices is said to be a rather regular topic of conversation amongst taxi drivers, it has been said that the money doesn’t appear to be in this line of work anymore, due to the amount that is having to be paid out for petrol, as most taxi drivers have to cover their own maintenance and fuel costs.

Taxi drivers say fuel costs eat into their profits

Taxi drivers have exclaimed that it is costing more and more to fill their vehicles up and so these expenses are eating into their profits, the catch 22 is that they cannot put their prices up as they believe customers will then think that they are too expensive and may stop using them.

Experts have explained that the weak pound is the reason for this ride, with it recently hitting the biggest low in 2 and a half years against the dollar. Prices were also expected to continu increasing. This is because crude oil and refined products are traded in dollars and therefore it is more expensive for British companies, when the pound fell. Petrol prices were also influenced by the rising oil prices. It was also said that there does not appear to be an obvious reason for the price increase, as petrol supplies were not tight at the present time.

Chancellor George Osborne has plans to increase fuel prices for September this year, though the AA have called on the Government to completely forget the idea because these rising prices appear to be actually forcing drivers off British roads.

Taxi drivers believe it is an easy taxation for the Government

Taxi drivers have exclaimed that it is an easy tax for the Government to add and it definitely should not be going up. It was said that they believed motorists are definitely an easy target when it came to getting money out of someone or something.

George Osborne did scrap plans for the 3p per litre fuel duty increase that was set for January, following the amount of criticism that was received from motorists. Around 60% of the price that motorists are paying at the petrol pump actually foes to the Treasury at the present.