The prices of both unleaded petrol and diesel at UK forecourts are now falling more quickly than at any other point in 2024 so far, with both fuels now nearly 7p cheaper than a month ago, RAC Fuel Watch analysis shows. As of Thursday 19 September, a litre of unleaded is being sold for 136.15p on average – down 5p since the start of September (141.26p) and … [Read more...]
Budget fuel-duty change threatens to fire inflation
Removing the five pence per litre cut in fuel duty could drive inflationary cost pressures, raising prices for businesses and consumers, according to a submission made by business group Logistics UK to the Treasury ahead of the autumn Budget on 30 October. The business group, which is one of the UK’s largest and only trade body representing all logistics, … [Read more...]
Motorists expect higher costs in 2024
Motorists expect the cost of running their car to continue to rise across all major areas of spending in 2024, new research shows. October’s new Startline Used Car Tracker shows that 70% think congestion zone charges will rise and the same percentage expect service and maintenance to increase. Other costs expected to go up include motor insurance (67%), … [Read more...]
Cost of living risks to road safety
With the cost-of-living crisis showing no signs of lifting any time soon, TyreSafe is urging drivers and riders not to compromise on their safety. Tyres are a vital, safety critical component, arguably the most important for staying safe on the roads. Replacing tyres is costly but trying to save a few pennies can be a false economy. Ultimately, how well … [Read more...]
Beware pitfalls of buying privately, warns Ombudsman
The Motor Ombudsman has warned motorists not to cut corners when buying their next used car. The cost-of-living crisis has led to an increase in first-time buyers considering cheaper options when the time comes to purchase their next vehicle. However, despite mounting costs elsewhere, the Motor Ombudsman says a used car is certainly not an … [Read more...]
Price probe call into ‘rip-off’ diesel fuel
The wholesale price of diesel is now on a par with petrol yet diesel is still being sold for 17.5p a litre more on average at forecourts across the UK, reveals data from RAC Fuel Watch. The average price of petrol stands at 146.63p while diesel is 164.26p despite both fuels selling for around 114.5p on the wholesale market. In fact, on two days last week … [Read more...]
Annual average car costs rise by £1,000
Annual average car costs have risen by almost £1,000 – an increase of around 20% – since the start of 2022. November’s Startline Used Car Tracker research suggests motorists' annual spending on fuel, insurance, servicing and car finance had risen by £80 a month. The biggest single increase was seen in fuel at £37 per month but insurance and motor car … [Read more...]
Families sell cars to pay bills
The cost of living crisis is forcing families to sell their cars, according to October’s Startline Used Car Tracker. Almost one in four (23%) say they already or are going to reduce the number of cars in their family while 61% say that tightening personal finances have changed their attitudes to car ownership for the worse. Paul Burgess, CEO at Startline … [Read more...]
Longer MoTs will stretch safety and push up costs, RAC
Majority of drivers believe changing the MOT to every two years is a dangerously bad idea, says the RAC. Only a fifth of drivers support recent Government proposal to change the annual MOT from every year to every two years Drivers have serious concerns about the Government’s plans to change the compulsory MOT from every year to every two years to reduce … [Read more...]
Inflation puts brakes on ev models
Rising inflation and cost of living will put the brakes on car sales, particularly electric models, says Close Brothers Motor Finance. It will also slow down the UK Government’s drive towards greener policies for other products and services, according to Lisa Watson, Director of Sales at Close Brothers. The cost-of-living crisis is having a … [Read more...]
