Since last year, the average cost of owning a car has shot up by around 14 per cent, the RAC claims in a recent study. The paper shows that the biggest single contributing factor is the price of filling a tank. Over the past year, the cost of putting petrol into a car has shot up by 13.8 per cent to 134.78 pence per litre. The price of diesel has also increased to 140.49 pence per litre from 122 pence, a rise of 15.16 per cent.
Since 2010, the average cost of filling a car has increased by £160. The RAC said that this fact was increasing the burden on already cash strapped middle class families. The organisation is now calling on the government to take action, and reduce the price at the pumps.
Adrian Tink, a spokesperson for the RAC, said the index showed just how much drivers were being penalised at the pumps. Another factor is the rising cost of insuring a car. Because of an increase in insurance fraud, the number of uninsured drivers on the roads, and more people making claims for personal injuries, firms have pushed up the cost by around 14 per cent. The price of annual cover now hovers around £550.
Owning a car now costs Brits close to £7,000 per year.
In 2009, taking out an insurance policy was 35 per cent cheaper than it is today. The tide has to be stemmed, said Mr Tink.