Car costs shoot up 20% in a year

Car on coins

The cost of running a car has risen over 20% in the past year, according to research from Sainsbury's Finance. The huge hike is largely due to the spiralling cost of petrol and car insurance.

It now costs on average £3,090 a year to keep the typical car on the road - a staggering 21.1% more than it did on 1 April 2010, claims the supermarket bank.

Of this, 30.7% is made up from rising insurance costs adding £191.24 to the total cost.

Likewise fuel increases mean the average driver is spending around £1,720 a year more on petrol for their cars.

Record petrol highs

Petrol prices hit a record high in mid-May of 137.43p a litre, although they have dropped back slightly in recent weeks. The average UK petrol price is currently 135.83p per litre and 139.56p for diesel, according to

Servicing charges have also risen by 5.4%, motoring taxes by 5.1% and the price of an MOT has gone up by 1.5%.

Ben Tyte, spokesperson for Sainsbury's Finance, says the family car is vital to most of us, and with the majority of us feeling the pinch when it comes to running them.

"The cost of motoring has soared in recent months as all costs, but particularly fuel prices and insurance premiums, continue to rise. The cost of driving can be kept better in check by shopping around, particularly for fuel and car insurance," he adds.

Are you worried about rising costs? Check out our guide to reducing your petrol bill.


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