High fuel prices prompt drivers to save on motoring costs

Rising fuel prices have prompted many drivers to look for ways to save on motoring costs, with motorists looking for ways to reduce their car insurance rates in order to cope with the high price of petrol.

Unleaded petrol prices reached an average of 137.44p a litre by the end of last month, eclipsing the recent high water mark set in May of 2011 by 0.01p, industry experts say.  Diesel fuel has increased even more, with a new high of 144.67p a litre, and one direct car insurance provider’s recent research data indicates that many drivers have altered their motoring habits in order to save some cash at the pump.

Nearly 75 per cent of motorists indicated they have scaled back the number of miles they put on their car, with 20 per cent indicating that if petrol costs rose to £2 per liter, they would give up the car altogether.  Other drivers have sought savings elsewhere, such as looking for deals on discount car insurance in order to free up cash to keep filling the tank.

The insurance provider’s managing director, Tobias van der Meer, commented on the survey findings, stating that it indicated that motorists are feeling massive amounts of pressure on their finances from petrol price increases. Drivers will ultimately be unable to cope with the rising price of fuel, Mr van der Meer added, though those dedicated to finding low-cost alternatives to other motoring necessities such as car insurance could keep themselves on the road a bit longer.

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