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Inflation increases to 3.1% after jump in petrol prices

Iain Reid, content director at Carwow, believes switching to an electric vehicle is worth considering after the jump in petrol prices.

He said: “The sharp rise in petrol and diesel prices is a reminder that fuel costs can quickly add up, so it pays to shop around before filling up.

“Carwow’s fuel price checker enables drivers to compare the cheapest fuel stations within one, three, five, 10 or 20 miles.

“For drivers thinking longer term, these latest figures also show why it is worth considering switching to an electric vehicle (EV).

“Even with electricity prices rising – the energy price cap is set to rise by four per cent from October 1 – charging an electric car remains considerably cheaper per mile than filling up with petrol or diesel.

“The price cap will see the cost of driving 1,000 miles rise by just £1 (less than one per cent) since July.

“In comparison, the average price of petrol rose by 9.1p per litre between July and August, to an average of 161.3 – that’s a 5.9 per cent rise in just a month – while diesel rose 8.4 per cent (14.2p per litre) to an average of 181.8.

“Of course, an EV won’t suit every driver, but the potential savings on everyday running costs make switching worth considering, especially as petrol and diesel prices continue to rise.”

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