Cost of motoring for Britain’s 30 million drivers falls 5%

The cost of motoring for Britain’s 30 million drivers has fallen 5% (£123) in 2009 to £2,219, according to RAC’s annual Cost of Motoring Index. Despite this small reduction, an RAC poll revealed that eight out of 10 cash-strapped motorists still believe that the cost of running their car has risen. And in response nearly half of those surveyed (45%) have been making significant changes to their motoring lifestyle over the last year, such as reducing their car ownership and moving towards a one car household.

The drop in the cost of motoring has been driven primarily by the price of fuel. While the price of petrol and diesel has fluctuated over the last twelve months, costs have fallen overall by 10% to £1,184 per year. Diesel in particular has become much cheaper, with prices falling 14%.

The Cost of Motoring (CoM) Index focuses on the day to day running costs that have a tangible impact on motorists’ pockets. This includes road tax, fuel, insurance, maintenance and breakdown cover. For the first time the 2009 Index also calculates the annual running costs for used cars, which is £2,744, 24% (£525) higher than for new vehicles.