Motoring News » fuel costs

Fuel and insurance costs are altering car buying choices

Alan — Thu, 28 Jul 2011 06:13:05 +0000

Over sixty-five percent of drivers have said record fuel prices along with the rise in costs of car insurance will make an impact on the vehicle they choose to purchase when it comes time to do so, says a new moneysupermarket.com research.

The number one comparison sight in Britain found that drivers now face difficult decisions with their finances with a great deal of them thinking about changing what car they purchase as a way to lower their costs.

More than 55% said they will purchase a vehicle that is more efficient the next time and 38% said they will try and purchase one that is less expensive to cover for insurance or has a road tax that is less. Close to one million said they would sell their vehicle.

Ways to save money on insurance your car includes paying the year premium all at one time. Even though it is quite an outlay to start the majority of cover is less expensive paid all up front than making monthly payments.

The majority of insurance companies will charge interest on the unpaid balance if you pay monthly which will make your payments even higher. If it is not possible to pay the entire money up front them consider a 0% credit card and finance the insurance premium that way.

Drive less in the span of the year because the more you drive the more time is spent on the road and the possibility increases of getting in an accident. And the less you drive annually the less you pay for insurance premiums.

Vehicle security is a way of reducing your annual insurance premiums. The securer the vehicle the less likely it may be stolen and the less likely you may have to process a claim. Insurance companies will help with lower premiums if you have an immobilizer or an alarm and if you do not, then it is worth the expense.

As some of the security fittings may be expensive you should check beforehand with your insurer to see how much the premiums will be discounted before going to the expense of having them all installed.

Driving safely and not speeding is very helpful in lowering your premiums since traffic offenses like speeding will increase the annual premium and could put you at risk of not even getting cover. If you modify your care you need to let the insurance company know since most modifications increase the premium you may want to keep them to a minimum.

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FairFuelUK want fuel costs controlled

Alan — Sat, 12 Feb 2011 07:17:06 +0000

FairFuelUK is campaigning desperately to convince George Osborne and the House of Commons that the soaring cost of petrol in the U.K. is seriously endangering the welfare of hauliers and all the rest of the country’s motorists. Backed by the Road Haulage Association, the Freight Transport Association, the RAC and the Fuel Card Company as well as businesses and individuals, the campaigners are hoping their voice is loud enough to be heard and heeded.

Founded by Peter Carroll, a Larkfield haulier and Shepway councillor, FairFuelUK is protesting the planned rate hike in April, which would add to the already onerous burden on motorists at the gas pumps. Mr. Carroll told BBC Radio Live that the proposed rise in duty could add 20p per gallon to the price of fuel, and that is just not acceptable. He also noted that hauliers in particular are going to suffer, as they already typically spend up to £900 per week on diesel fuel. At the moment, fuel duty on a litre of petrol is 58.95p.

Geoff Dunning of the Road Haulage Association is urging everyone to sign up on the FairFuel site and join in the efforts to get fuel prices stabilized. He said this may be a “window of opportunity” to pressure the government into a workable plan of action and to prevent the increase in April.

The campaigners say that scrapping the proposed hike in duty is only a small first step, but at least it would show the government’s willingness to work on the problem. That would include promoting the development of alternative energy sources, greener vehicles and better, cheaper public transport. The fuel crisis is a long-term problem, and any possible solution must provide for a long-term outcome, not just a hold on the price of petrol.

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Motoring concerns high on voters list of concerns

Alan — Fri, 23 Apr 2010 18:51:08 +0000

A new survey from the AA suggested that a few motoring issues may play a big role in the way people vote in the upcoming General Election. According to AA members, on the list of their top three concerns is the costs running and owning a car.

Out of the nearly 15,000 that were surveyed, 53% stated that motoring costs are first on their list of concerns, with another 41% stating they were concerned about how much it would cost to drive. Although parking, taxes, and parking prices were their highest concerns, 51% were also worried about illegal drivers followed by drivers that are under the influence of a substance.

Other issues that were commented on heavily by those surveyed were traffic congestion at 25% and road conditions at 30%. However, there were a few issues that stood out according to area and age groups such as the fact that those over 65 were more concerned about illegal drivers than those in the age group of 18-24.

Those in the North East are more concerned about the high costs of motoring even though they have some of the lowest fuel prices in the UK over those in Northern Ireland who have some of the highest fuel prices to face.

In terms of election manifestos, AA members reported that they believe road safety education and free school busing should be part of the school curriculum although they are not too sure of removing traffic lights or creating left turns on red.

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Chancellor not as kind as he implies on fuel costs

Alan — Fri, 26 Mar 2010 05:22:55 +0000

Fuel prices that were supposed to have a big rise in April, but will instead be staggered over the rest of the year in order to gently ease consumers into the cost of rising inflation according to a statement that the Chancellor made this week.

However, motoring groups are not happy with the statement since they claim that petrol prices are still likely to hit record highs next month of up to £1.20 per litre, which has not been aided by the fact that the Chancellor has withdrawn his subsides for biodfuel production.

Fuel duty was set to increase by around 3p next month under a plan outlined in last year’s budget, but instead come April they are due to go up by 1p, then one more pence in October, with the final raise occurring in January.

Darling commented that the staggered raise should help the pressure on family incomes and business incomes during a time period when they are already struggling with other price increases.

The previous 2008 budget states that fuel duty will rise over the next three years by inflation. However, driver’s reacted to the news in anger because taxes in general are already much higher in just an 18 month time period.

Currently drivers are paying over 117 per litre which is close to the highest fuel prices seen in July of 2008 at 119.7.

The AA estimates that their removal of the biofuel subsidy will also add another 1p to gas prices over the month of April leading to fuel prices of around £1.20 per litre.

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