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Drivers making cutbacks to afford petrol

June 19, 2009 by admin  
Filed under News, News-Insurance

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It has been reported that many drivers in the UK are being forced to make cutbacks in other areas in order to pay for petrol costs.

A poll was recently carried out by the AA, and the results showed that around 10 percent, or one in every ten drivers, is having to make cutbacks on their spending on order to keep on top of petrol costs. The news came after the price of petrol increased again, with the average price of unleaded petrol rising above £1 per litre once again.

Over the past month prices at the pumps are said to have increased by around four pence per litre, according to the AA.

The survey involved polling around fifteen thousand drivers, and the results showed that around 26 percent of drivers were now using their cars less as a result of the petrol price increases, and around 12 percent of drivers had been forced to make financial cutbacks elsewhere in order to cope with the rising cost of fuel.

There were a number of common areas where drivers seemed to be cutting back, and this included going to the cinema or theatre, eating out, and other forms of entertainment that involved going out and spending money. People in Wales, the West Midlands, and the South West of England are said to be the most affected, whilst those in London are thought to be the least affected.

An official from the AA said: “This survey exposes just how drivers are suffering because of increasing fuel prices. We hope the Government will abandon further fuel duty rises to boost economic recovery. The research also begins to chart the course, set by market speculators pumping up the price of oil and fuel refiners’ cutbacks, towards a prolonged recession and perhaps another collapse in the fuel market. Money and credit is far less plentiful than last summer with unemployment, frozen pay and reduced savings rates. Forcing drivers to switch potential high street spending into paying for fuel is hardly the way to stimulate a consumer-led recovery.”

Tags: driving expenses, saving fuel, unemployment, research, West Midlands, driver savings

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