Petrol’s Going Up: And it’s Not the Only Thing…

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It’s indisputable that many of us are not earning enough to pay for everyday expenses as it is, without the situation becoming worse. The fact is that experts are warning that Brexit is going to cost us more than we expected, on top of rising rents, food prices, warnings of significant rises in the cost of a new car, and now an increase in petrol – at present the highest it’s been in two years, but set to rise even further. While we are not the only country where people at the bottom – and increasingly, people in the middle – are struggling, further price rises and the real, unknown cost of Brexit, are making things a lot worse.

Motorists Face All Round Price Hikes

The poor old British motorist is having a tough time of it at the moment, and this is set to get worse rather than better in the near future. Along with the unknown costs of Brexit, a lack of access to the single market will push car prices up by £1,500. This huge rise in the cost of replacing your current vehicle also comes with increased insurance costs and petrol costs.

It Affects Everyone

What we are not often told is that when costs such as insurance and petrol rise, so do the cost of food and clothes. Most companies use motor vehicles for collecting and delivering their goods; increased petrol and insurance costs will mean that they will pass some, if not all of those price rises onto the consumer, if they want to make a profit again this year.

Whether you own a petrol or diesel vehicle with low emissions, your costs will go up this year – and if you plan on buying a new vehicle, even before Brexit actually happens, the cost will be higher. In addition to all of this, recent changes in car tax rules will mean another increase in your tax and insurance payments. If you are looking to replace your current vehicle, then it would be best to do it before the government triggers Brexit, or it could cost you significantly more.

Hidden Costs

The fact is that there are lots of hidden costs associated with a rise in the price of vehicles and petrol. It will cost more for companies to deliver your shopping, and to deliver orders to various stores, and this will mean a rise in what the consumer pays for all of their goods and services.

Going green in your motoring may help to reduce harmful emissions, something the government likes to talk about, but you will pay more for your insurance and for your fuel costs. Now, owners of greener vehicles don’t pay any tax at all on their vehicles, but that is set to change, and it will cost £120 to tax them in the first year, and £140 in second and subsequent years. Owners of diesel emitting vehicles could find themselves with significant cost rises in the future, particularly following the news of the VW diesel scandal.