Drivers still concerned by fuel costs

JonathanApril 8, 2014

New research from the British Car Auctions (BCA) indicates that the price of fuel is still causing stress for a lot of drivers.

Despite chancellor George Osborne announcement that the fuel duty would be frozen, motorists continue to worry most about cost of fuel. The BCA research found that 70 per cent of drivers worry about the high cost at the pumps. This is the same figure that was concerned at this time last year, indicating that nothing has changed for finances.

"With nearly three-quarters of respondents to our survey using their car every day, clearly every aspect of the cost of motoring is a worry," said Tim Naylor, editor of the BCA Used Car Market Report. 

"The cost of fuel remains top of the list of concerns – despite the fact that the AA has reported a steady drop in prices over the last year. The reality is that fuel prices today are still much higher than they were just a few years ago – and for many motorists it's hard to forget when unleaded was under £1 a litre."  

Mr Naylor said that, according to their report, more than a fifth of drivers are convinced that fuel retailers are failing to pass on potential savings to them, while a quarter feel frustrated by the lack of action by the government to tackle the cost of motoring.

As well as the high cost of fuel, the expense of road tax, rising price of insurance and the cost of general vehicle maintenance and servicing were also cited as top concerns. Parking completed the top five worries for motorists when it comes to keeping an eye on their wallets.

"More than a tenth of drivers feel pressured by rising motoring costs because they need their car for work," added Mr Naylor. "More than half of our survey said they have considered changing their current car for a more fuel efficient model in the last 12 months."

There are many expenses that drivers have to factor in, meaning that many have to go for a more affordable car, rather than the one they want. However, car leasing can make getting behind the wheel of a luxury model far more affordable so you can enjoy lower overhead costs as well.

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