Drivers Urged To Use Their Wits To Combat Rising Cost Of Fuel

With pressure at the petrol pumps continuing to place strain on motorists’ finances, it is crucial for them to be proactive in making sure the cost of filling up at the pumps to burn rubber does not also leave them with a hole in their pockets.

June 24, 2008 (FPRC) -- Such is the claim of GoCompare, which reports that the rising cost of fuel is currently setting drivers back hundreds of pounds more than it was during the same time last year. According to the price comparison firm, the average price of a litre of diesel in May stood at one pound and 24 pence, with the same amount of petrol costing one pound and 12 pence. However, both fuels were shown to amount to a typical 97 pence in June of last year.

As an example, the firm reported that last month the price of filling a gallon of petrol into a Ford Focus 1.4i stood at five pounds and 11 pence, compared to four pounds and 41 pence a year ago. With the average motorist shown to be driving 12,000 miles over the course of a year - using 280 gallons of fuel - a total of 1,433 pounds was indicated as going towards petrol expenses. Such a figure represents a rise of 196 pounds from the expenditure required for the same amount of driving in 2007.

Meanwhile, those driving a diesel Ford Focus 1.6TDCi are currently shown to be splashing out 1,081 pounds at the pumps. Using a total of 191 gallons over the course of a year, annual fuel costs for these motorists have increased by 233 pounds during the past 12 months.

Following on from facing such an increasing cost of running a car, it may be possible that drivers find they develop problems in managing other areas of their finances. Such areas could well include store and credit cards, personal loans, household bills and mortgages.

However, it was reported that it is possible for millions of drivers to offset the impact that rising fuel can have on their finances. By taking the time to shop around for the most competitive car insurance deal around it is possible that some 222 pounds can be saved on the cost of an annual policy.

Commenting on the research’s findings, Hayley Parsons, spokesperson for Gocompare, said: “Everyone is getting angry about the price of petrol and diesel rising but our advice is to use two fingers constructively by picking up your mouse and clicking on an insurance comparison site. You can shop around to save five pence a litre on your petrol each time you fill up, but it still won’t off-set the full cost. It is also a lot more time consuming than spending ten minutes on an insurance price comparison site when your renewal quote arrives in the post.”

She went on report that changing car insurance provider is “compelling enough at the best of times but with motorists facing increased costs you have to look to save money where you can”. As such, Ms Parsons suggested that drivers make use of a price comparison website specialising in insurance cover in order to make sure they are getting the most competitive deal possible.

Those looking to purchase a new set of wheels in the coming months, whether it is a Ferrari Enzo or a Fiat Punto, might wish to consider taking out a cheap personal loan. By getting such a low cost loan it may be possible for drivers to buy a car quickly and effectively. In addition, the financial assistance that a loan brings could also help borrowers to purchase a comprehensive insurance policy, as well as meet other motor-related costs such as petrol, MOTs and repairs.

A loan for the purposes of managing motor expenses may be particularly recommended after swiftcover indicated some consumers are considering switching their vehicle to a smaller model in order to save money. It was also reported that fuel is the third largest expense that Britons face, coming behind mortgage repayments and food costs. Meanwhile, making sure that tyres are kept inflated, in addition to avoiding breaking sharply, were put forward as ways in which drivers can cut down on the amount of fuel they have to purchase.

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