UK motorists spent over a billion pounds extra on fuel in last 12 months

(July 25, 2022) It seems all drivers in every part of the world are paying more for gas in 2022. For example, United Kingdom motorists have forked out an additional £1.13 billion pounds during the last 12 months because of the rising cost of gas and diesel. Used car platform CarGurus has looked at the average monthly cost of diesel and gas prices from June 2021 to June 2022 based on the average monthly mileage and average mpg of petrol and diesel cars in the UK.

It found that 12 months ago, drivers were spending around £2.31 billion a month. However, with the average cost of gas and diesel reaching 191.25p and 199.02p per liter at the end of June, it’s estimated that in June the figure has risen to £3.44 billion, which represents a percentage increase of 49%.

For Brits’ wallets, this amounts to an extra £30 a month per driver — equating to £360 over the course of the year.

When looking at the last 12 months, the largest month-on-month rise took place between May and June with the monthly spend jumping from £2.98 billion to £3.44 billion.

These findings support a recent study conducted by CarGurus that revealed fuel consumption is now the number one priority for UK car buyers, with 57% declaring it as one of their most important considerations with deciding their next vehicle purchase.

A British pound now equals $1.20. One billion pounds equals $1.2 billion.