New research has revealed that around one in four drivers are struggling to deal with rising driving costs…
Rising Driving Costs
One in four British motorists have stated that they’re struggling to cope with increasing driving costs. Research conducted by Compare the Market found that a quarter of motorists are finding driving-related expensive prohibitive. A further one in three are concerned that they won’t be able to cover costs over the coming weeks.
The research follows reports from the RAC that fuel prices have risen dramatically. As it stands, petrol has risen by 3p in recent weeks to 166.65p, nearing the 167.3p average reached on 22 March. The average price of diesel reached 180.29p on 15 May, which is above the previous high of 179.9p on 23 March.
Around eight in ten drivers have faced rising fuel prices in the past six months. A further three in ten have seen their car insurance expenses rise, too. It now costs £1,843 to drive an average petrol car, £313 more than in the previous year.
The Impact On Our Lives
Alex Hasty, director at Compare the Market, is concerned that rising driving costs will have a major impact on how people live their lives. He said, “the high fuel costs are now forcing drivers to make fewer journeys; and some are needing to cut back on seeing friends and family. It is concerning that a number of people expect to go into debt to keep driving”.
Simon Williams, the RAC’s fuel spokesman, has criticised the Chancellor for not doing more to help drivers. He said, “unfortunately, drivers with diesel vehicles need to brace themselves for yet more pain at the pumps. Had Mr Sunak reduced VAT to 15 per cent as we call on him to do instead of cutting duty by 5p, drivers of diesel vehicles would be around 2p a litre better off, or £1 for every full tank”.
He added, “as it is, drivers are still paying 27p VAT on petrol and 29p on diesel, which is just the same as before the Spring Statement”.
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