A tank of petrol nears £100 as prices continue to rise

The Momentum UK Team 25 March 2013

The average cost of refueling a family car in the UK looks set to reach £100 as the price of petrol sees three consecutive months of steady rises.

The average price of petrol within the UK has seen an increase of 5.5% in three months and despite the government's pledge to scrap the proposed rises in fuel duty, this steady increase has resulted in car owners picking up the additional cost. The average family car, with a fuel tank of 70 litres will now cost £97.37 to fill.

Unleaded petrol however has experienced even further rises, with an increase of 7.3 pence over the same three month period. This means that the cost of filling up a car with a 60 litre fuel tank is likely to be an average of £83.43. This is an increase of £4.38 or 9% over the last three months.

Using these figures it is possible to estimate that a motorist driving 1,000 miles each month, with an average fuel efficiency of 35 miles to the gallon will spend £180 every month on petrol. This is almost £10 more than in january this year.

Santander, who compiled the statistics, analysed the average price of petrol per litre in every UK town between the 4th of January and the 11th of March 2013. They found that the most expensive place to refuel was in Dumfries in Scotland, where the average fuel price per litre reaches 145.9. This means that owners of a vehicle with a 70 litre fuel tank will have to spend £102.13 to fill it up.

In contrast Torquay is the cheapest place in the UK to buy petrol, with an average of 135.9 per litre. This would mean that the same 70 litre family car that costs £102.13 to fill up in Dumfries, would be closer to £95.13 for a full tank.

Alan Mathewson, of Santander commented:

"With the cost of fuel expected to reach its highest level in the coming weeks, families and car commuters are likely to be the hardest hit once again. Aside from mortgage costs, households in the UK already spend more on transport than any other living cost, so further hikes may well push many family budgets over the edge.

There are a number of small changes people can make to reduce these costs, such as car-pooling with colleagues, driving more economically or using public transport.”