Motorists leave cars at home as fuel crisis bites
Further evidence has emerged that motorists are driving less as a result of the continued fuel crisis.
The RAC reported that at the end of May fuel prices reached their highest level since the Iran conflict started, and warned of further price hikes to come. A study earlier this month carried out by Tempcover found that 44% of drivers are using their cars less as a result, and that has now been backed up by June’s Startline Used Car Tracker.
It has revealed that 54% of those questioned said they are driving less to cut fuel costs, with 49% claiming they won’t be able to afford to run their cars if prices remain at their current levels.
The survey also underscored the impact of higher prices at the pumps on household budgets, with 45% cutting expenditure on their weekly shop, 29% buying fewer items of clothing and 26% using their heating less.
Meanwhile, 39% report they are eating out less often and 33% have reduced spending on treats for the family.
Personal finances
Paul Burgess, CEO at Startline Motor Finance, said: “We’ve lived through a long period where a number of crises have deeply hit personal finances – from the financial crash to the pandemic – and the new oil shock has left many people feeling even more vulnerable.
“Our findings here show how pump prices are impacting in all kinds of way. Yes, people are using their cars less but they are having to make all kinds of economies at home, too, whether that means essential spending or treats. It’s having a deeply negative effect.”
