Fuel tax reaches record high, comments Car finance experts Car Loan 4U

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The UK’s leading car finance website Car Loan 4U comments on the latest figures revealing that the amount of tax motorists pay on each litre of fuel has reached a record high.

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The cost of motoring is soaring and for a number of drivers it is only going to continue rising

New research from the House of Commons Library shows that an average of 81p out of a litre of 138.3 p petrol goes to the Treasury in fuel duty and VAT. Diesel drivers pay 81.8p of tax on the typical 143.2p litre of fuel, reaching almost a record high for this year.*

Car Loan 4U Co-Director James Wilkinson commented:

“The cost of motoring is soaring and for a number of drivers it is only going to continue rising. The EU gender directive will come into force this December**, drastically pushing up the price of insurance for some and now motorists are hit with higher fuel costs. One way drivers could reduce the high price of motoring is by investing in an eco-efficient vehicle.

“Not only can motorists enjoy lower fuel costs with efficient cars, but they could also benefit from lower road tax, and government grants for electrical cars. ***

“Manufacturers recognise the importance of reducing fuel consumption on levels that are good for the environment, as well as consumer costs. The number of hybrid and electric vehicles on the market is steadily rising as demand for fuel-efficient cars increases.”

The popular Chevrolet Volt was voted Car of the Year for 2012 and runs almost entirely on electricity. **** The Toyota Prius Plug-in is a hugely popular hybrid which uses additional batteries that can be charged.

Fuel-efficient vehicles are typically more expensive than regular petrol and diesel cars, however, car finance is widely available. Anyone who is considering buying a new car might wish to consider their car finance options and see what cheap loans are available.

Car finance experts Car Loan 4U offers affordable car loans from just 7.9% APR.

For your car finance needs visit: http://www.carloan4u.co.uk.
Twitter: @carloan4u
Facebook: http://www.facebook.com/carloan4u

Notes to editors
*Source: Tax paid on petrol reaches a record high http://www.telegraph.co.uk/motoring/news/9657101/Tax-paid-on-petrol-reaches-a-record-high.html

**Source: Gender Directive FSA http://www.fsa.gov.uk/pubs/other/gender_directive.pdf

***Source: UK government launches £5,000 electric car grant scheme.

****Source: Meet the 2012 Car of the year: Volt. The electric car with extended range.

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Ryan Dignan
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