Fuel prices hit a record high

Things have been looking increasingly dismal for drivers over recent months when it comes to petrol prices, and for many the rising cost of petrol has caused real financial problems, making it difficult for some motorists to actually afford to run their cars. However, things have now got even worse as a result of prices at the pumps reaching record highs of £1.20.

In July 2008 the soaring cost of oil saw petrol prices reach new highs at the pumps, but the latest prices have now surpassed those seen in 2008. The prices reached their record high just days after the first of three one penny price hikes was added as part of the fuel duty hike, with the other increases due to come in October and January of next year.

Whilst the Chancellor of the Exchequer, Alistair Darling, was hoping that staggering the three pence fuel duty hike would help drivers by avoiding a sudden sharp increase in already high petrol prices drivers have still been hit with the highest prices on record, and things could get worse before they get better due to the rising cost of oil and the weak pound.

Officials from the motoring group the AA said that it was difficult to predict where things would go, as it could depend on a number of factors including how the pound reacted to the general election, which is due in May, and the impact of any tax changes that followed on from the election.

Another industry official stated: “The things that have really put the cost of petrol up more recently has been the fact that our currency has been weaker against the dollar, and that’s actually had a bigger impact than the duty itself. In 2000, the fuel tax was 73.5%. And now, it’s running at about 60%. So tax on fuel, as a percentage, is actually lower at the moment.”

Tags: Exchequer, oil, petrol, cars, GBP, cost, real financial problems, Fuel tax

How to Minimize Your Car Expenses

Having a vehicle is almost a necessity of life for most of us and one that costs us a lot of money, especially with the rising price of petrol. Along with having to pay for insurance and make the payments on the vehicle, you also have to perform regular maintenance, such as in purchasing new tires and having regular checkups performed on the engine. There are ways though that you can cut down on these costs and save yourself money. Read more

Tags: feel, car expenses, good running order, roof, careful driver, amount, cheapest prices, cars

Car scrapping scheme could run dry of funds early

It has been announced that the car scrapping scheme that the government put into place after the budget could run out of money six months earlier than anticipated. Read more

Tags: cars, car, result, scrap cars, car scrapping, report, scrapping, advantage

On yer bike for cheap insurance, says AA

AA Insurance has said that people can save money on their insurance premiums by switching from cars to motorbikes.

The insurer went on to say that using a motorbike “makes sense” for other reasons, such as being able to get around inner city areas more easily.

Bikers can also benefit from not having to pay the congestion charge in London and bikes are easier to park as well as being “somewhat cheaper to insure” than cars, according to AA Insurance public relations manager Ian Crowder.

The idea has already crossed some people’s minds, as 14 per cent of women have said they would consider swapping their car for a motorbike to save money, according to statistics released by the Post Office this month.

Almost a third of people (29 per cent) who ride motorcycles said they did so because it was cheaper than keeping a car.

However, Mr Crowder said he did not think there would be a vast increase in the number of bikes on the roads

“People aren’t abandoning cars in favour of bikes, what they are doing is perhaps getting a bike so they can commute because riding a motorbike is a solitary occupation.”

Tags: london, cars, Insurance, city, office, number, public relations

Do You Need Classic Car Insurance?

Whenever we think of a ‘classic car’, and classic car insurance, images of a car from a bygone era and races to Brighton once a year immediately spring to mind. However, if you’re currently thinking of buying a second-hand car, then there’s a chance you may be asked to insure this as a classic car. Read more

Tags: classic car insurance, Autos, veteran cars, cars, symbol, vintage cars, classic cars, advertising