Tuesday 27th January 2015
Be Wiser Insurance

96% of drivers believe the cost of fuel needs to be lower to make motoring affordable again, a poll by Be Wiser Insurance has shown. 

In a poll of 2066 motorists, almost half of respondents said the cost of petrol should be between 80p and £1 per litre, while a fifth said it should be even lower, between 60p and 80p per litre. 

The findings of the survey suggests that the majority of drivers will be happy if prices are slashed to under £1 per litre, and some petrol stations across the country have done exactly that. 

However, fuel always has been something that people do not want to pay for, and decreases in prices will not necessarily change this. 

Resentment 

No matter what the cost of petrol is, drivers will always want it to be lower, not least because nearly two thirds of the cost of petrol is tax

With fuel duty set at 58p and VAT piling another 22p on top, it’s no wonder motorists are resentful. That’s not even considering that motorists are paying for their fuel out of taxed wages. 

While the government has been calling on fuel companies to reduce the price of petrol according to the reduction in oil prices, consumers are still left wondering why the government doesn’t do the same by reducing tax at the pumps. 

Positive Effects 

Mark Bower-Dyke, chairman of Be Wiser Insurance, comments: 

“With petrol costs at their lowest in five years, the cuts could have a positive effect on the economy. Motorists who aren’t paying premium at the pump will have extra cash to spend on the high street.” 

But it's not all good news, Mark Bower-Dyke continues:

"We all want driving to be more affordable, but a side effect of cheaper fuel and the feeling of a little extra cash in people’s pockets could mean more unnecessary journeys, leading to more congestion on the roads." 

Price Hikes To Come 

The recent drop in oil prices is due to the availability of fracked oil, with oil companies able to lower prices and savings being passed on to consumers on the forecourt. However, as corporations are not currently investing in oil and reserves are being used up, fuel prices are set to spike again in 2015.

Tagged In:

We Are Here For You
Press Releases
Wednesday 14th July 2021
With the Government restrictions having come into effect we would like to remind you that we are able to continue to provide you with the help and support you may need. Our objective is to be able to provide you with a consistent and excellent service all year round.
Be Wiser Insurance
Press Releases
Friday 23rd April 2021
Be Wiser are delighted to be joining the Atlanta 1 group as a result existing customer policies will transfer to Atlanta 1 from the 30th April. Whilst this change does not impact the level of cover you have or the insurer that has underwritten your policy, we wanted to give as much information as possible so you can feel assured that you will continue to be covered in the same way.
Be Wiser Insurance Receives Feefo Platinum Trusted Service Award 2021
Press Releases
Monday 29th March 2021
Be Wiser Insurance has won the Feefo Platinum Trusted Service award, an independent seal of excellence that recognises businesses for delivering exceptional experiences, as rated by real customers.