Ministers have hinted that a 5p per litre fuel duty cut could be in the offing - but logistics companies should hold their celebrations for now.

If it does go ahead, the reduction would only apply to certain remote parts of the UK.

The 'island fuel rebate' was first rolled out across the Scottish islands and now the government is planning to introduce the scheme in other isolated areas on the mainland.

While this is good news for haulage firms that are based in less built-up parts of the country, it will do little to appease businesses that predominantly deliver goods to busier towns and cities.

Haulage organisations have been urging the chancellor to make significant changes to diesel prices for a long time, as sky-high rates - coupled with the economic downturn - have forced many companies to take drastic action in order to survive.

The AA is one group that believes oil price speculators are doing more harm than good and quite often the prices being charged at the pumps do not reflect the global value of wholesale oil.