Brits have saved an incredible £267M on fuel during lockdown

Thursday, May 21, 2020 - 07:20
3,288 Views

New report by GoCompare* reveals Brits have saved an incredible £267 million on fuel prices since the start of lockdown in March!

lockdown

Lockdown restrictions have canceled the daily commute for millions of workers, freeing up both the roads and our budgets.

As most cars stay stationary, less petrol is being purchased across the UK. That saving has severely impacted the cost of fuel at the pumps, with prices for both petrol and diesel plummeting since coronavirus arrived leading to petrol pricing wars taking place between Tesco, Asda and Morrisons.

Find out how much YOU have saved as lockdown changes our daily routine, and what those changes mean for both our time AND money:

BRITS SAVE MORE THAN A DAY IN TIME BY WORKING FROM HOME

The research found that on average, Brits spend 58 minutes a day commuting for work by car, covering 3.4 miles each way. Over the course of a year that adds up to over 200 hours, or around eight and a half days a year we spend traveling to and from work!

As of May 12 2020, we’ve saved 34 working days, where we’d typically commute, so during lockdown, the average Brit has saved 30 hours and 36 minutes with that number only set to increase as the pandemic continues.

With an average yearly fuel spend of £1,154 a year, it’s calculated 35p is spent per 3.4 miles commute, adding up over the total days in lockdown this equals a HUGE total time and money-saving which may affect how we all choose to work in the future.

If you’re one of the millions being told to work from home, see how much you’ve saved on your commute by using our fuel price calculator.

THE IMPACT ON UK ROADS

68% of the UK population usually drive to work every day, leaving roads eerily quiet as the majority of the UK self-isolate.

Unsurprisingly, it’s London that takes the top spot for the busiest rush hour route, with a journey from Chiswick Roundabout to the A40 costing drivers an average of 56 hours a year! Leeds also causes delays, as commuters travelling from Harrogate Road to Victoria Street lose an average of 40 hours a year, while commuters going from the A56 to Northumberland Street in Manchester miss out on 36 hours through congestion! Which makes you think, being stuck at home might not be ideal, but it may well be better than being stuck in traffic.

So how does the UK compare to the rest of the world in its strategy against Coronavirus? Driving in the UK has been drastically reduced, by 62% compared to the start of 2020. This is significantly more than other countries, with the USA’s driving only down by 30% as Government advice and measures differ throughout the world.

Public transport has also taken a significant hit, with that down by 81%. But perhaps more shocking is that even walking is down, despite the exercise guidelines in place, 61% fewer people are taking to the streets as they choose to stick to the safety of home.

Commenting on the research findings with advice on future savings, Matt Oliver, motoring expert from GoCompare said: “Understandably, as cars are used less, we are starting to see an impact on insurance and pricing. There are a few things you can do to reduce costs while your car isn’t in use. If you have a finance agreement for your vehicle, talk to your provider as they should be able to offer you a payment break.

You can also speak to your insurer to see if there is anything they can do to help such as reducing or deferring premiums. You could look to lower your standard mileage or your cover level to reduce your premium. If your renewal date is due shortly, shop around to see if you can get the cover you need for a much cheaper price.

It will be interesting to see how fuel usage changes once lockdown has lifted. With companies announcing remote working will continue, this will affect the daily commute for thousands of drivers.”


*Report by GoCompare

Leave A Comment

Advertise here