Workers priced out of commute by fuel costs
New research has revealed that a third of drivers won’t be able to afford their commute if fuel prices continue to rise.
As the cost-of-living intensifies, a new study by Volkswagen Financial Services UK (VWFS) has found that 32% of the nation will be priced out of driving to work if petrol and diesel prices continue increasing as they have done this year.
The data also showed a generation divide, with young people most affected by the fuel crisis. Six in 10 (63%) people aged 18 to 24 say they’d not be able to afford the drive to work if prices keep inflating, with just 24% of 55 to 64-year-olds stating this was the case.
Another aspect of the car finance provider’s study showed that 35% of Brits would consider changing jobs if it allowed them to saving on commuting costs, whilst a quarter (24%) would think about car sharing to get to work.
Furthermore, half of the nation (50%) feel it is acceptable to ask passengers for petrol money given the current economic climate, up from the 33% of people who thought it was acceptable to ask passengers for petrol money before the cost-of-living crisis.
Mike Todd, CEO at Volkswagen Financial Services UK, said: “Rising fuel costs are a serious issue and as our research highlights, many people are already making lifestyle changes to negate the higher prices. Drivers looking for a quick fix might want to consider low emissions ICE vehicles to help reduce running costs, but the fact that some will not be able to afford to drive to work if prices keep increasing is the shocking reality of the situation.”
