Nearly one in five motorists are cutting back on household spending or using their vehicles less often to cope with the cost of fuel, according to new research. A survey of more than 2,000 adults carried out for the Money and Pensions Service (MaPS) found that 17% of drivers said they could afford fuel but sometimes had to reduce vehicle use or cut spending elsewhere to pay for it.
A further 2% said fuel costs were simply unaffordable, highlighting the continued pressure motoring expenses can place on household finances. The findings come as fuel prices remain a major concern for many households, with three in five drivers (60%) saying they are worried about the cost of filling up their vehicles.
Despite this, only around half (51%) of motorists surveyed knew which petrol station near their home offered the cheapest fuel. In response, MoneyHelper has launched a new free fuel finder tool designed to help drivers compare petrol and diesel prices in their local area and potentially cut motoring costs.
The impartial and advertising-free tool uses data from the Government's fuel finder service and covers petrol stations across all four nations of the UK. According to MoneyHelper, fuel retailers are required to update prices within 30 minutes of any change, helping motorists access up-to-date information before filling up.
The service is intended to help drivers make more informed decisions about where they buy fuel, while also providing access to wider financial support. Alongside fuel price information, users can find budgeting tools, savings guidance and information about benefits and other financial support that may be available to them.
Anna Sharkey, Head of Money and Pensions Policy and Propositions at the Money and Pensions Service, said: "We know that for many people, the cost of filling up is no longer just an inconvenience, it's affecting everyday household decisions. Our new fuel finder tool is designed to give people practical, impartial help in the moment, while also connecting them to wider support on budgeting, benefits and managing their money in the long-term."
The tool is available in both English and Welsh and can also be embedded on other organisations' websites to help more people access the service. MoneyHelper said the fuel finder forms part of its wider support offering, which aims to help people manage day-to-day finances and make informed decisions about their money. Drivers can access the fuel finder through the MoneyHelper website, where they can also find information on budgeting, benefits, debt support and other money-related issues.
