Petrol prices on the increase, plus 2p fuel duty next week
Published: 26 August 2009 By MoneyhighStreet Staff 2 Comments
A further 2p in fuel duty is to be added by the Government from next week and this, coupled with already rising petrol prices as oil prices rise, is going to hit motorists hard.
Just the 2p in fuel duty will add an average £1.16 to a tank of petrol, taking the cost of filling the average tank to £62, up over 25% since 2007.
Rising oil prices are also forcing petrol prices up again with up to 3p expected to be imminently added, making a whopping 5p rise in a very short time.
According to uSwitch.com a third of drivers are now planning to change their larger, petrol guzzling cars for smaller, more efficient ones.
There’s also the cost of car insurance to consider. All vehicles have an insurance group rating which is calculated using a number of factors, including the current value of the car, the new value of the car and its performance or its top speed and acceleration.
The higher the insurance group rating, the higher the car insurance premium.
So, the larger, higher performance cars not only will cost more in petrol but are like to cost more in insurance premiums.
You can see this easily for yourself by comparing car insurance premiums using a comparison website such as Gocompare.com or Confused.com – very quickly you’ll be able to see just what a difference there is.
It really does seem that if you are looking to save money on your car it’s worth considering the smaller, more efficient ones.
Don’t forget the car scrappage scheme too – it may help if you are considering scrapping your old car and buying a new one.
More people should try car-sharing. Commuters who regularly share their journey save hundreds (sometimes £2,000+!) of pounds a year. You just need to find someone(s) travelling the same way as you (try http://www.liftshare.com) and arrange to take turns driving with them. Effectively leaving your car at home at least one week in two.
I live on an island in the Scottish Highlands where our fuel has been over £1.10 per lt for weeks now and it will be up 2p in the morning too.So the extra 2p is to discourage people from using their cars?.My local shop is 20 miles away,my local town is 100 miles away,local train station 35 miles away and its a 3 mile walk to the bus stop (which comes twice a day).The labour goverment should look beyond the city for their poor excuse for fuel duty.P.S i also work as a HGV driver and will be very lucky if i have a job by the end of the year due to the duty to deter people from using their cars.