Cost of driving increases at three times the rate of inflation

23 November 2011

fuel gaugeIf driving didn't make you angry enough, the latest annual figures on the cost of motoring will make your knuckles whiten with anger. The increase in the costs of driving is now at almost three-times the rate of inflation, which is just great if you rely on your car to, y'know, live.

Now, the average annual cost is around the £6,500 mark, or, if you prefer, around £129 per week or 55.74 pence per mile. That's an average of £1,556 more, per year, than motorists where paying in 2007.

The Telegraph reports that, when vehicle depreciation and finance are excluded, day-to-day running costs are also up by 11.1pc to £2,743. Of course, the biggest hike is in fuel costs which have increased by £160 annually since 2010.

Petrol is up from 118.4p/l to 134.78p/l and diesel has shot up from 122p/l to 140.49p/l. To rub salt in the wound, insurance costs have also seen a sharp rise, climbing up 14.4pc to an average of £551.

Adrian Tink from the RAC says: "This year's index highlights the tough conditions being faced by Britain's motorists. With the annual cost of motoring approaching £7,000 the price burden of car ownership is hitting drivers hard. The increase of almost three times the rate of inflation is crippling drivers' wallets and something needs to be done to stem the tide."

"With fuel prices continuing to be the biggest single running cost, UK drivers want action from the Government"

TOPICS:   Motoring   Travel   Insurance   High Street News

1 comment

  • Yue
    insurance costs have also seen a sharp rise because the insurance companies sold details of your accident to lawyers that deal with injuries and got sued senseless. Insurance companies really need to be looked at.

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