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Thinking inside the box

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Why Rising Fuel Prices Should Mean Smarter Working

As petrol and diesel prices reach an all-time high, the 5p fuel duty cut announced by Chancellor Rishi Sunak in his spring statement comes as a small, but welcome relief to many companies and organisations dependent on transport to operate their business. While delivering his speech in the House of Commons, Mr Sunak said it’s ‘the biggest cut to all fuel duty rates ever’, claiming it will save motorists £5 billion.

The cut will remain in place until March next year but could take up to 10 days for the price cuts to filter through to drivers. Fuel duty is the tax included in the price paid for petrol and diesel when you fill up at the pump. The standard 20% VAT rate is then added on top. Duty on petrol and diesel had been frozen at 57.95p since March 2011. But a cut of 5p announced by the Chancellor sets the duty at a new price of 52.95p.

Even with the cut in fuel duty, the price of petrol currently sits at an all-time high. Before the spring statement the average cost of a litre of petrol at UK forecourts was 167.3p, while diesel was 179.7p, figures from data firm Experian Catalist show. This is an increase of 18p per litre for petrol and 27p for diesel over the past month. It means on average, a tank of fuel is costing motorists around £90.

One of the things which affects the price of fuel is the supply and demand for crude oil, and its price globally. In general terms, the higher the price of crude oil, the higher price motorists pay at the pump. Oil prices surged immediately after Russia’s invasion of Ukraine due to supply fears, leading to a rise in wholesale costs; after the invasion on 24 February, the price of crude oil jumped by 5.6% to $102.30 (£77.60) per barrel, hitting its highest point since 2014. Prices were already increasing as global economies recover from the coronavirus pandemic.

What has all this to do with document management and storage?  All deliveries are made using vans with the latest clean euro 6 diesel engines and we aim to work with and gain the co-operation of our clients to make sure Filofile’s service continues to work for them, remains cost effective, flexible and reduces the carbon footprint.

Depending on the volume you store with us, we offer free, next day collection and electronic registration of all documents and records. There are four levels of retrievals that clients can choose: Non Urgent; Next Day; Six Hour or Two Hour.  Choosing the “Not Urgent” retrieval level gives us the flexibility to minimise miles travelled and therefore minimise the charges we pass onto you. This will never compromise when you receive an item because you give us a date by which the document must be delivered.

If you have several departments who regularly need to retrieve records, be sure to co-ordinate those requests to save multiple trips back and forth which not only increase your costs but also make for a more crowded environment. It’s all about adopting a smarter way of working: identify your likely future needs, plan and communicate with other departments who use our service and end up saving on costs and contributing to a greener future!

Contact us today to see if off site document storage could benefit your organisation.


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