Price of motoring rises more than ever

15 November 2007

  • 3.5% hike in motoring costs since 2006
  • Fastest rise in costs since 2000
  • Treasury says prices are actually lower

cost of motoring

The cost of motoring has risen at the fastest rate for seven years over the last 12 months.

Data from the Government's Office for National Statistics shows that the cost of filling up with fuel, insuring and maintaining a car has risen by 3.5% between October 2006 to 2007. That's the largest rise since 2000.

During the period, fuel prices reached an average of 97.2p a litre in October 2007, compared to 85.9p a litre in 2006, while Vehicle Excise Duty and insurance rose by an average of 6.1%.

The Treasury defended the figures, saying that if inflation is taken into account, the real cost of motoring has actually fallen by about 15% since 2000, while fuel duty rates were 15% lower than they were in 1999.

Since the data was compiled, fuel prices have continued to rise to more than £1 a litre.

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