Taxi driver's fuel bill to rise by £3k - as fares frozen for customers
Business owners in Somerset say a planned 5p cut to fuel duty does not go far enough to combat soaring prices.
Petrol and diesel prices in the UK are at an all-time high, meaning many drivers are feeling the pinch.
Chancellor Rishi Sunak announced the cut in his spring statement today, but for some fears the rising cost of fuel could make their work unsustainable.
Dave Regan who runs Saints Taxis in Burnham-on-Sea estimates his fuel bill will rise by £3,000 this year.
He says he cannot change his fares - as they are dictated by Sedgemoor District Council - so instead his business absorbs the cost.
Taxi driver Dave Regan speaks to ITV News
"There's never been a great deal of profit in the taxi trade," he said. "But with the increase in fuel, the increase in parts that you have to pay to keep them serviced, it reduces your bottom line.
"There comes a point where you would ask yourself - is it viable or should I go and drive for Asda delivering food?"
Stuart Keedwell is chairman of RT Keedwell Group, a haulage firm which has been running since 1969 based in Highbridge, Somerset.
He is similarly impacted by fuel costs, and told ITV News he had to increase his rates to his customers by 10% earlier this year because "it is such a large part" of his costs.
Stuart Keedwell speaks to ITV News
He is also worried about what will happen if his customers cannot afford it in the long-term and he also believes by next week the prices will be back up again.
"The 5p cut is very welcome and I also understand it is the biggest cut they've ever made," he said. "But if we go back to January and compare it to today -our fuel bill has gone up over 40p a litre.
"The 5p is nowhere near the increase we've seen since the start of the year."