Drivers Cutting Back On Journeys Due To Rising Pump Prices
The ever-increasing cost of petrol is having a negative impact on drivers, with many trying to reduce the amount of time spent in the car to save money.
According to an AA Populus survey of 17,480 AA members from two weeks ago, 15 per cent have decided to drive less. It also revealed nine per cent were trying to spend less on other expenses to compensate for high petrol costs, while an additional 14 per cent were doing both.
This is due to pump prices climbing to 124.22p a litre for petrol and 127.08p for diesel last weekend (May 5th – 6th).
Those most affected by the steep costs are skilled manual and service workers, with 12.4 per cent reducing spending on other things, 14.3 per cent limiting their car usage and 19.3 per cent doing both. Many people need to use their vehicle for work, including those who hire vans in Middlesex, so having to spend a lot of money on fuel is starting to affect their jobs.
The AA’s president Edumund King said: “Once again, we’re beginning to see the spectre of some drivers having to make a choice between cutting back on household expenditure or being able to afford to drive to work.”
He noted that rising mortgage costs and higher pension contributions are also causing drivers to feel their finances increasingly constrained.
Despite petrol prices being at their highest level since the peak of 2014, they could increase even further due to air strikes on Syria from the UK, France and US.
PRA chairman Brian Madderson was reported by the Mirror as saying the threat of US missiles from president Donald Trump forced oil prices to surge nine per cent in one week. The destabilisation of the Middle East – where much of the world’s oil is found – could have a huge impact on fuel costs across the globe.Back to Latest News