It’s typical, just as we are recovering from the COVID 19 pandemic and the world has reopened, airport chaos ensues and the thought of a UK holiday remains. However, the rising cost of fuel has added a whole other level to the cost of getting away.
Fuel prices in the UK have reached record highs in 2022, with the average price of petrol now 185.04p per litre and diesel 190.92p, driven by increased wholesale prices and current world events.
In June 2022 the cost of filling up the average family petrol car exceeded £100 for the first time. On 7th June 2022, we saw petrol’s biggest daily jump in 17 years, going up by 2.23p from 178.50p to 180.73p.
In the UK the average vehicle consumes a gallon of petrol in 38.8 miles, in basic terms 38.8 mpg.
So how much will a 100 mile journey now cost compared to 2022 and 2021 using a petrol fuelled vehicle. In 2022, 100 miles will cost £21.68 with a litre of fuel costing 185.04p. In 2021, 100 miles would have cost £17.46 with the average fuel price of 149.6 pence per litre.
Does this seem like a big difference? Let’s step up the distance. The average motorist in the UK covers 10,000 miles per year. In 2022, 10000 miles per year will cost £2168.06, against 2021 which would have cost £1752.82
That’s a massive £415.24 difference for driving the same vehicle, the same distance in exactly the same way.
You should also remember that every car has a different fuel economy which again can affect the amount you pay on your petrol or diesel. Some examples of these are Rolls Royce Ghost which manages an average of 14 mpg (£60.07 per 100 miles covered) compared to a much higher Peugeot 208 1.5 HDI which manages an average of 73.6 mpg (£11.43 per 100 miles). The fuel economy information is usually found in individual descriptions of the car or alternatively you can ask the selling dealer.
It doesn’t look like there will be a drop in cost anytime soon, so here we have some tips to save us all some hard earned £££s..
- Plan your journey.
- Keep tyres at correct pressure.
- Avoid hard acceleration and heavy braking.
- Keep your vehicle well maintained.
- Remove unnecessary weight and remove roof boxes or bike racks when not in use.
These are just a few simple ways to start saving instantly.
We have also found the following links which you may find helpful:
Find the best fuel prices local to you on https://www.confused.com/petrol-prices
Calculate the cost of your journey using https://www.mpg-calculator.co.uk/journey-price/
If you are looking to change your vehicle. We can look to help! Give us a call to discuss the finance options available for you. Whether you have a great, good, bad or poor credit rating or score, we can help you finance the car of your dreams.