Hedge could be answer

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COMPANIES which buy large quantities of fuel are being advised to look at their purchasing strategies after fuel prices topped £1.31 in Portsmouth.

John Anderson, managing partner at Clydesdale Bank’s Portsmouth FSC, said local businesses that use as little as 50,000 litres a month should look at the security fuel hedge contracts provide.

It would mean companies can guarantee the price they pay for fuel.

He said: ‘Now is a good time for businesses to review their fuel-purchasing strategy and budgets given the day-to-day price changes.

‘SMEs in particular can take advantage of this solution by committing to hedging smaller quantities of fuel than have traditionally been possible.’