New analysis has revealed that UK motorists are already facing substantial costs for every mile they drive, ahead of a potential new road pricing system from the government.
The Current Cost of Driving
Financial research firm NimbleFins has conducted a detailed study, finding that the average petrol driver is already paying 17p per mile just to fill up their tank. This figure varies significantly depending on the vehicle's engine size.
For drivers of cars with engines up to 1400cc, the cost is approximately 13p per mile. Those with engines between 1401cc and 2000cc face a cost of 14.5p per mile. However, motorists with larger engines over 2000cc are paying the highest rate at 18p per mile.
The analysis was based on an average fuel economy of 36 miles per gallon (MPG). Diesel drivers also face significant costs, ranging from 13p to 16p per mile.
Impending Policy Changes
These findings emerge amid reports that Labour Chancellor Rachel Reeves could introduce a pay-per-mile car tax system for electric vehicles (EVs) as early as later this month.
The timing is particularly relevant given the substantial cost difference between traditional and electric vehicles. NimbleFins noted: "This is roughly 50% to 90% more expensive than the cost to run an electric car per mile, even on a regular tariff."
The research highlights how vehicles with larger engines and higher CCs consume more fuel and achieve worse fuel economy, directly increasing their cost per mile.
Current Fuel Price Context
Recent fuel price data shows some relief for drivers, though costs remain significant. Petrol prices fell by 0.58p from an average of 135.55p to 134.97p per litre during the month, while diesel decreased by 0.81p from 143.38p to 142.57p.
For a typical family car with a 55-litre tank, filling up with unleaded now costs £74.23, while diesel costs £78.41.
Supermarket prices offer some savings, with average prices at the big four supermarkets standing at 131.99p for petrol and 139.44p for diesel. This makes a full tank of petrol £72.59 and diesel £76.69 – approximately £1.65 cheaper than the UK average, according to RAC data.
The combination of existing fuel costs and potential new taxation measures suggests drivers may need to prepare for continued financial pressure on their motoring expenses.
