New figures from the RAC Cost of Motoring Index have shown that UK motorists pay 14 percent more to keep a vehicle on the road than they did a year ago.
The average new car running cost now stands at £128.64 a week, the RAC said in a report. Compared with 2007, owning and running a car is now £1,556 a year more expensive.
The highest year-on-year increase in 2011 was seen in the depreciation rate, at 16.67 percent, followed by car insurance (14.38 percent), fuel (12.4 percent) and maintenance costs (8.8 percent). Finance costs also rose by 9.85 percent year-on-year, while RAC membership was 4.21 percent higher. According to the report, motorists are facing an average bill of £6689, £819 higher than the previous year and three times the current rate of inflation.
“With the annual cost of motoring approaching seven thousand pounds, the price burden of car ownership is hitting drivers hard,” said RAC spokesman Adrian Tink. “The increase of almost three times the rate of inflation is crippling drivers’ wallets and something needs to be done to stem the tide,” he added.
The RAC is calling for the scrapping of next year’s planned fuel duty increases to reduce the growing pressure on motorists’ wallets.