The cost of being on the road in 2020
The cost of running a car has always been a worry; vehicle prices have climbed steadily since the year 2000, and many new cars tend to cost an average of £30,000 for both new and experienced drivers.
Alongside these initial cost worries, drivers are expected to pay to make use of the road. Since 2020 began, here in the UK, the road has gotten more expensive in recent months, only pushed along by the economic downturn many Britons are starting to find themselves unprepared for.
It’s important to see where these new costs are coming from. Average prices of fuel, for both petrol and diesel, have climbed since April. Car tax has been steadily increased over the recent months, and some drivers are expected to pay upwards of £500 on their bill. New driving rules, introduced in June, may require drivers to pay upwards of £100 for simple road mistakes.
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Pexels Image – CC0 Licence
One of the main concerns for current drivers is the fact that 2020 has brought an increase to the car tax. Introduced in April, many car models have been pushed into higher tax bands, thanks to the emission changes introduced earlier this year – with data showing a over 19 percent rise in CO2 levels, paying more for road tax has been seen as an essential part of reducing the damage done by fuel emissions on the environment. Of course, some car owners are going to be affected by the changes in car tax more than others.
There’s also to be a congestion charge update; introduced late last month, albeit temporarily, drivers will have to pay a base rate of £15 per day, rather than the usual £11. The scheme also begins earlier, running from 7am onwards, and ends later at 10pm in the evening. This could cost unsuspecting drivers hundreds per week.
Car insurance is also set to get more expensive in the coming months. Of course, people expect to pay for car insurance, and policies have classically carried a hefty monthly premium with them. For example, paying for something like hgv insurance has always carried a bigger price tag with it, thanks to the increased premium prices based on the size and use of vehicles like this. However, many comparison sites warn that basic car insurance is set to increase in 2020, based on reports from February. Thanks to factors such as keyless car crime, and the increased amount of personal injury claims, the way claims are processed may mean any big costs are passed straight back to customers.
And it’s important to note that fuel prices have also been fluctuating this year; in earlier months, fuel cost average values were high, at an average of £1.13 per gallon. However, from April to mid June, fuel prices dropped to an average £1.07 per gallon – the lowest the UK has seen in years. Prices are steadily climbing back up, but remain lower than the beginning of the year, as of time of writing.