Fuel prices in North West accelerate in one year
Motorists in the North West are bearing the brunt of sky-high fuel prices having seen cost of petrol accelerate over the past 12 months.
According to new data from Confused.com, petrol prices in the region increased by an eye-watering 12.1p (+10%) and diesel 15.7p (+13%) in just one year.
This means the average price of petrol per litre hits 130.7p in the region, costing drivers a whopping Â£74 to fill a medium-sized car (57L) with fuel, according to Confused.com’s fuel price index.
Meanwhile, the price of diesel in the North West now costs motorists 136.3p/l, and Â£78 for a tank (57L), on average.
However, there are some areas within the region where the cost of fuel is beyond the region’s average. In particular, motorists filling up their car in Eden, will pay 138.8p/l for petrol, and 142.7p/l for diesel, on average.
Although it isn’t just motorists in the North West who face sky-high fuel prices.
And further research found that UK drivers are forking out a significant percentage of their yearly income on fuel.
In particular, drivers who earn between Â£5,001 and Â£10,000, such as part-time sales or customer service workers, who are likely to have other commitments such as young families or other dependents, are paying anywhere between 7% and 13% of their salary on fuel(2).
According to the study, drivers in this pay-bracket spend Â£653 per year on fuel, on average.
Meanwhile, motorists earning more than Â£35,000 fork out between 2% and 3% - as much as Â£1,574 per year, on average.
Although, arguably, this is still more than they should, given just how high the price of fuel has reached.
Overall, petrol and diesel is on the up across the UK, reaching record-breaking prices.
According to Confused.com’s fuel price index, the cost of petrol alone has increased 13.1p (+11%) over the past year, reaching 131.5p/l in October, on average, costing drivers Â£75 to fill up a medium-sized car (57L).
Meanwhile, the price of diesel accelerated by 15.6p (+13%) to 136.2p with a full medium-sized tank (57L) costing a whopping Â£78, on average.
And further research reveals the these 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.
More than a fifth (22%) of UK 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 – a notoriously expensive cost burdened on drivers.
Considering fuel has become such a major expenditure for many motorists, it’s no wonder a fifth (20%) say the cost is making it unaffordable to run a car.
And there is evidence of this in the fact that one in seven (14%) drivers cannot afford to fill up their car with fuel regularly, with the average amount spent per trip to the pumps costing motorists just Â£31, per time, on average.
And this isn’t even enough to fill up a tank of a small car (42L), which would cost Â£55 for petrol, and Â£57 for diesel, on average.
But 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 (23%) say they avoid making trips in their car to reduce their need to spend on fuel. One in four (25%) 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 (18%) would even consider changing jobs to get a better salary, in order to be able to afford to run their car.
And 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(6) found that almost half (48%) 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, mostly (65%) due to the lack of charging points. Although, the hefty price tag is also an issue to some (61%).
Amanda Stretton, motoring editor at Confused.com, says: “Fuel prices have accelerated across the UK, and it’s clear the North West have been hit particularly hard by the increases over the year.
“Prices of fuel across the UK are the highest on record, according to our fuel price index, and this is really hitting drivers hard. Some are spending more on their fuel per month than they do on days out with their loved ones.
“To take some of the pressure off motorists at a time when fuel is at it’s most expensive, Confused.com is offering customers Â£20 free Texaco vouchers with car insurance(3).
“But it isn’t just inflated fuel prices motorists are facing. Car insurance prices have also started to creep up again according to our latest car insurance price index data(8). Drivers should shop around online at Confused.com and compare motoring costs, such as fuel and car insurance to find the best deal.”
**Confused.com’s fuel price index collates prices from 7074 out of 8496 fuel stations across the UK.