- Wednesday, 7 April 2010Motorists may have to make
debt management plans to cope with rising fuel costs.
The average UK petrol price almost surpassed the record levels seen in the summer of 2008 and in parts of the south have already gone beyond the 119.7p a litre mark.
Research by the AA has shown many drivers simply can not afford to use their cars as much and those that have to are cutting back their expenditure to make up the difference.
Those with existing debt problems could well be forced to seek
debt management advice as a result and many more could be pushed into debt.
According to the research, two thirds of families are cutting back on outgoings more now than they were in November 2008, at the height of economic instability surrounding the
bankruptcy of Lehman Brothers.
Half of the respondents are using the car less frequently as families are having to fork out in excess of an extra £20 a month to run two petrol cars.
Edmund King, the AA's president, said: "Over the weekend, some retailers who put prices up 2p a litre, in line with the increase in duty and other costs, brought them back down.
"Such is the knife-edge between what drivers can and cannot afford to spend on fuel."
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