Motorists Fear Increasing Motoring Costs

As a result of motoring costs increasing so dramatically, it appears that more Brits are re-assessing their driving habits. Recent surveys have shown that 48% of motorists in the UK are currently mulling over the idea of selling one of their family cars in order to escape high fuel costs, increased car insurance premiums and ramped up road tax.

Escape hefty costs:

Results have shown that 71% of people have fought off the desire to get behind the wheel of a brand new motor as inflation has hit motorists hard. There is more pain at the petrol pumps for drivers, with fuel duty increasing by 2p per litre, which is the third increase in petrol and diesel tax in nine months.

Motorists hit another pot hole in the road once VAT is included, this latest duty rise will total 2.3p per litre – pushing the average price of petrol across the country to 105p per litre. And with oil prices continuing to rise, analysts predict petrol and diesel prices will rise by a further 3p per litre in coming weeks – costing the average family an additional £120 a year.

Rocketing petrol and diesel costs have contributed to a 17% increase in the overall cost of motoring in the UK. Coupled with hesitant car buyers and limited access to car credit increasing depreciation by a massive 35%, motorists are now forking out 19% more to keep their cars on the road.

Over the past year, fuel prices have meant people trying to plan their weekly budget effectively have been hit by a number of unexpected extra costs. Even when oil prices fall, retailers are not following suit quickly enough and motorists are still bearing the brunt of the bill.

The average motorist is paying £600 more in tax a year. However the Government’s proposed tax rise won’t deter motorists, with 76% saying they wouldn’t be put off by an increase in tax costs.

Cutting down costs:

There are precautions to take into consideration such as driving in the highest gear possible without laboring the engine. A vehicle travelling at 37mph in third gear uses 25% more fuel than at the same speed in fifth gear.

Simple things like keeping your tyres at the right pressure can help improve the fuel efficiency of your car. Under-inflated tyres increase your fuel consumption by about 2%. Filling up for less could also save you a small fortune, prices may be going up but there can be significant differences between retailers. Supermarket chain Morrison’s, is freezing prices at forecourts and absorbing the latest rise in fuel duty.

The AA recommends slowing down and driving more smoothly - keeping a good distance between the car in front of you, and you will have to do less accelerating and breaking. Driving at 70mph for example costs a significant increase in fuel than driving at 50 mph – slowing down could seriously save you money.

Over 36% of drivers are considering buying a car that is cheaper to run than their current model in order to save money on motoring costs. Nearly one in five motorists is contemplating changing their car for one in a lower insurance category.

The average overall cost of motoring has risen to £6,133 to keep a car on the road - a 19% increase from previous figures. As the consumer champion for UK motorists, RAC urges both fuel retailers and the Government to help ease motorists’ monetary pain. Only if action is taken can we see the cost of motoring come down.