Drivers pay 14% more to stay on the road
The RAC revealed the average annual cost of running a car has soared by 14% during the past 12 months, adding £819 to the driver's bill.
These figures mean that drivers pay an average of £128.64 a week, or £0.56p a mile to run their vehicles. It now costs an average of £1556 more per year to run a car than it did when the financial crisis began in 2007.
Figures for the RAC's Cost of Motoring Index are based on 17 new cars and take into account various costs including depreciation, finance, servicing, repairs, fuel, insurance, road tax and breakdown cover.
Petrol fuels the pain
The largest increase in running costs were from fuel and insurance. Fuel increased by £160 from 2010 – a 12.4% increase - while the cost of insuring a car is now 35% higher on average than it was in 2009.
Adrian Tink, RAC motoring strategist, said: 'With fuel prices continuing to be the biggest single running cost, UK drivers want action from the Government.
Last week’s Commons debate, prompted by the Fair Fuel UK campaign, showed the real depth of feeling across the country on this issue. At the very least, we are calling for the scrapping of next year’s planned fuel duty increases.'
Used cars cheaper to run
Despite an increase of 13.2% in used car costs it remains cheaper to own and run a used car compared with a new one. The main reason is the significantly smaller depreciation suffered by used cars (£1286) compared with that of new vehicles (£3582).