More than a quarter of UK drivers plan to cut back as petrol prices soars – London Business News | Londonlovesbusiness.com

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Rising fuel prices, driven by the Iran-US conflict, are prompting UK drivers to rethink their travel plans.

Petrol now costs nearly £1.40 per litre, while diesel exceeds £1.55 per litre. As a result, 29% of drivers intend to use their cars less, according to data from ChooseMyCar.com.

Additionally, around 27% of motorists plan to reduce the number of miles they drive, and 17% are changing their driving habits to conserve fuel. Alarmingly, 14% of drivers report cutting back on essential expenses such as food and entertainment to manage rising fuel costs.

This price increase occurs despite a temporary 5p cut in fuel duty following Russia’s invasion of Ukraine. The Labour Government is set to implement a phased fuel duty increase, starting with a 1p rise in September 2026, adding further financial pressure on households.

Panic buying has led to queues of up to 90 cars at some petrol stations, resulting in local shortages. With no relief in sight, many drivers are preparing for prolonged hardship at the pumps.

Nick Zapolski, motoring expert and founder of ChooseMyCar.com, has urged drivers not to panic.

He said: “The Iran and US situation has gotten worse over the past couple of weeks, and this is seen to have bumped up our fuel prices, which could reach as high as £165p per litre in the future.

“Understandably, this is worrying news for a lot of drivers. Even though we’ve only seen initial price rises, 70 per cent have said they’ve already been affected by the new increased costs. With various Government laws and changes over recent years, drivers have suffered a number of financial setbacks – this is just the latest. As a result, it’s causing millions of drivers to panic buy.

“But, before making any drastic decisions, I urge drivers not to do this. It’s understandable, but there’s not much point yet. Prices are still below the record highs seen during the 2022 fuel prices, and it will still take a while for significantly higher costs to filter through to the pump. At the moment, you’re just queuing up when you don’t need to, and it’s causing petrol stations to run out of fuel!

“If you’re worried that you’ll struggle to cover the cost of any increased prices, instead switch your focus towards ensuring your driving is as careful as possible, when needed. While you obviously can’t prevent fuel usage while driving, you can make sure you don’t drive too fast, or brake too hard, which will help.”

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