Sky-high petrol prices add to debt woes
Sky-high petrol prices add to debt woes
Thursday 12th June 2008
Over the last 12 months, the average commuter has seen the cost of their journey to work increase by 21 per cent.
A poll conducted by product comparison site insurance.co.uk found that for 16 per cent of people the impact of this has been so severe that they are considering quitting their job because their commute is no longer economical.
A further 25 per cent of drivers said they have now abandoned their car in favour of public transport and 19 per cent are actively seeking car shares in a bid to cut costs.
Steve Grainger, head of insurance.co.uk, said: "The rising cost of fuel is taking its toll on British drivers in more ways than one.
"Our research highlights the enormous pressure being put on commuters and the wider economic consequences that may lie just around the corner."
The study's results come as analysts are predicting that the price of a barrel of oil could surge to $200 over the next two years - potentially sending the cost of running a car soaring.
SimpleIVA - Expert and Confidential IVA advice.
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