High fuel prices put a halt on staycation plans
It seems making the most of summer might be easier said than done this year.
The increased cost of living combined with high fuel prices is putting many people’s staycations and summer plans on hold, new research shows.
A summer at home
As many as 38% of people say they’re less likely to take a staycation this year, according to an Auto Trader survey, with 85% citing rising fuel costs as the main reason.
Of the 2,417 asked, 29% are now less likely to head off on a foreign driving holiday, and 51% of those still planning to enjoy a staycation will stay closer to home due to fuel costs.
Petrol and diesel prices stood at 161.8p and 176.3p per litre respectively as of 25th April, with official figures showing petrol jumped almost 13p per litre in March, the biggest monthly rise since records began.
The AA found wholesale prices recently surged by 5p a litre, and this rise will take two to three weeks to be passed on at the pumps, directly affecting drivers planning trips around the Platinum Jubilee bank holiday.
Thinking twice about travel
Ian Plummer, Commercial Director at Auto Trader, said: “The Covid-19 pandemic triggered a staycation boom, but it looks like being short-lived as foreign destinations reopen to travellers and drivers face the harsh reality of rising petrol and diesel costs for journeys at home.
“It is little wonder that would-be staycationers are thinking twice about embarking on lengthy road trips when it costs around £90 to fill the tank of a typical family car.
“This inflationary pressure is squeezing budgets across the entire economy and next March the Chancellor will be clawing back the temporary respite on fuel duty.”
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