Fuel Prices To Impact Yuletide Spends

Thu 18th Nov 2021

The British public are going to have to cut back on their Christmas spending this year, as an increase in fuel prices has impacted our finances.

Research from the RAC has found that 46 per cent of motorists have said they will reduce their spending over the festive period, as petrol and diesel costs continue to spiral out on record levels.

The RAC polled 2,500 drivers at the end of October and a third admitted that the sky-high cost of fuel had made them consider driving less than, while a further 25 per cent said they will spend less time at the wheel if the price hike continues.

Petrol prices are leading a surging inflation rate, with the Consumer Price Index showing that inflation had risen to 4.2 per cent in October from 3.1 per cent the previous month, the biggest rise in a decade. Almost seven out of ten drivers want to government to intervene in the issue says the RAC report, while a third said that if they could afford to they would switch to an EV immediately.

“These figures throw a light on the chilling impact the current record high petrol and diesel prices are having on drivers every time they fill up,” said the RAC’s fuel spokesman, Simon Williams.

“And there’s seemingly no end in sight – the price of unleaded is already up by more than 2p in November and this, combined with the fact domestic energy costs are also spiking, means households need to brace themselves for what could turn out to be a particularly expensive winter.”