Protyre News

Paying for fuel to get from A to B is something motorists cannot avoid, especially when it comes to families and employed people, but it is clear fuel prices are draining money from drivers with lower incomes, leaving them with fewer pennies to play with.
 
According to the study, conducted by Confused.com, drivers who earn between £5,001 and £10,000 who are likely to have other commitments such as young families or other dependents, are paying a significant 7% - 13% of their income on fuel. That’s an average £653 per year on fuel.
 
Meanwhile, motorists earning more than £35,000 fork out between 2% and 3% an average of £1,291 per year, arguably, still more than they should, given just how much the price of fuel has reached.
 
Regardless of how much a motorist earns, or how much they are spending, there is clearly the need for fairer fuel prices, as all drivers rely on their cars equally. To ease the sting of these costs, Confused.com is offering motorists £20 free Texaco vouchers with car insurance, to make filling up their tank that little bit easier.
 
The issue is only likely to get worse as the cost of fuel reaches record prices in October, following 12 months of rapid increases. According to Confused.com’s fuel price index, the cost of petrol alone has increased 11% over the past year, reaching 131.5p/l in October, on average, costing drivers £75 to fill up a medium-sized car (57L). Meanwhile, the price of diesel accelerated by 13% to 136.2p with a full medium-sized tank costing a whopping average of £78.
 
However, the research reveals the inflated fuel costs have hit all motorists hard, with some admitting they are spending more money on fuel than quality time with their loved ones. In fact, more than a fifth (22%) of drivers say they spend more on fuel in a month than they do going on days out with their family and friends. While, one in six (17%) spend more on fuel than they are able to save in a month. More than a quarter (28%) also say they spend more on fuel than their monthly car insurance bill.
 
Considering fuel has become such a major expenditure for many motorists, it’s no wonder a fifth say the cost is making it unaffordable to run a car. And there is evidence of this in the fact that one in seven drivers cannot afford to fill up their car with fuel regularly, with the average amount spent per trip to the pumps costing motorists just £31, per time, on average. And this isn’t even enough to fill up a tank of a small car (42L), which would cost £55 for petrol, and £57 for diesel, on average.
 
Cutting back on the amount they spend when topping up isn’t the only measure motorists are taking to save the pennies. Almost a quarter say they avoid making trips in their car to reduce their need to spend on fuel. One in four drivers would even consider changing their job to move closer to their home to cut back the amount they are forking out on fuel. Nearly one in five would even consider changing jobs to get a better salary, in order to be able to afford to run their car.
 
It seems motorists are willing to ditch conventional-fuel cars in order to cut back on their fuel spending, and would be adopt greener, more cost efficient alternatives. Additional research by Confused.com) found that almost half of motorists would buy an electric vehicle for their next car, the majority (77%) of which would do so because it would save on fuel, but worryingly, there is still the other 52% who wouldn’t due to the lack of charging points.
 
Confused.com’s report predicts electric vehicles could become more affordable by 2023, but until then, motorists may still be reliant on conventional fuelled cars, which come with significant costs themselves.
 
Amanda Stretton, motoring editor at Confused.com, says: “Fuel prices have reached the most expensive on record, according to our fuel price index, and motorists are feeling the sting, particularly those on lower incomes who are paying as much as 13% of their yearly income. And if prices continue to go up, motorists may be priced off the road. But at the moment, drivers are spending more money on fuel than they are on time with their loved ones, or even putting away money to save.”
 

Did you know? Having properly inflated tyres and plenty of tread helps towards your fuel economy. Get yours checked for FREE at any protyre centre.