Fuel duty increase ups cost of motoring

By Joel Stanier - Financial specialist

UK motorists are being faced with increasingly high running costs as the price of petrol continues to rise - further fuelled by today`s 1p rise in fuel duty.

The Government`s Budget announcement included a 1p fuel duty rise in April, followed by two similar rises in October this year and January 2011.

The average price of a litre of unleaded petrol is currently 117.93p, according to figures from Catalist - bringing it ever closer to last year`s high of 119.7p.

A car loans expert at Think Money said that motorists should look into different ways of bringing down the cost of motoring - such as switching to a better insurance policy, or for new car buyers, finding a good car loan deal.

"A car loan is just one of the things that many motorists have to think about, and for those who can`t afford to pay for their car in one go, it`s a cost that will usually stay with them for quite a few years.

"With that in mind, it makes sense to take the time to find the very best car loan deal for their needs, to make owning a car more affordable."

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Tags: Fuel duty, fuel, petrol, price, cost, petrol prices

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