Rising Fuel Prices Drive Down Car Usage

Two thirds of Brits have been forced to change their driving habits because of record fuel prices, according to new research from moneysupermarket.

Britain's number one comparison site asked site users whether record fuel prices were forcing them to change their driving habits. The results found two thirds of respondents (67 per cent) admit record costs have taken their toll; 62 per cent have reduced the amount of time they spend behind the wheel, and five per cent claim they have stopped driving altogether because of the costs.

However, almost a fifth (17 per cent) are sticking to their usual driving habits as they can just about still afford it, and a further 16 per cent have not changed their driving habits at all.

Kevin Mountford, head of banking at moneysupermarket said: "With the effects of the VAT rise taking hold, and the latest inflation data highlighting the pressure on our wallets, fuel is another day to day cost that people are really struggling with. Now really is the time to take action across the board with your finances to make the most of your money so you don't have to resort to changing your lifestyle dramatically. Apathy won't be rewarded, so seek out the best deals for your circumstances to make the most of your hard earned cash.

"It is easy to make the mistake of sitting on average products which do not give a good rate of return or cost far more than they need to. Significant savings can be made by switching to a better deal on all your financial products. These savings don't even require a change of lifestyle, but simply require a few minutes of research to check what deal you are currently being offered, comparing other products and changing to a more competitive deal if necessary."

24 January 2011 Staff

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