As fuel costs are expected to rise, drivers have been issued important advice as a way to save cash.
Drivers could save themselves over £97 a month by simply starting to lift share with a colleague and splitting the cost of fuel, new data has found.
With household energy bills expected to be £190 more a month, this month, than last year, drivers are being urged to review their travel costs.
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Ofgem recently reported that domestic electricity and gas prices – for a ‘typical’ household – rose from an annual average of £1,042 in October 2020 to £1,971 in April 2022. The average annual price is now capped by the government at £2,500 a year from October 1, in a bid to limit soaring energy costs.
Meanwhile, the average cost of filling up a car has increased by 35 per cent. After fuel spiked in price earlier this year, the rate has started to fall but now a limit in oil supply could see the price at the pump increase again.
Despite the surge in bills, Liftshare Group’s Commuter Census found that a fifth of workers still commute to work five times a week, travelling an average of 17.5 miles each way. This is costing solo drivers around £51 a week in petrol or diesel.
Sharing fuel costs can help the UK’s lowest-paid workers through the tightening cost of living squeeze by splitting the cost of their journey with another driver, or with someone in their household. This could help commuters save up to £97 a month on their fuel bills.
This £1,167 yearly saving is almost the same as receiving a four per cent pay rise based on the UK’s average salary of £29K which equates to £1,167.
Ali Clabburn, founder of Liftshare Group comments: "Sharing the commute is one of the simplest and best ways to save a lot of money. First and foremost, car sharing alleviates the financial burden imposed by the rise in living costs crisis. Travel costs aren’t only comprised of fuel but also potentially toll and parking fees. These costs can add up, especially if you’re making the same journey every day.
"With National Liftshare Week coming up, an initiative to help those who can’t walk or bike to work keep the costs of their travel down, people could save at least 50% on their weekly fuel costs. We are urging people to evaluate their outgoings so that they can make simple savings during one of the toughest financial crises. Now is the perfect time to explore your options and sign up to liftshare.com during Liftshare Week to start making immediate and valuable savings."
Lift sharing even makes financial sense for those workers only in the office one or two days a week. Recent reports found that the UK’s office workers only spend an average of one and half days in the office each week. Yet, that still adds up to around £565 on fuel a year, compared to £284 if you car share with another motorist.
Daniel McDermott and Tom Scott, Service Technicians at Heathrow Airport have been sharing the journey to work together for a number of years, each saving £140 a month in travel costs.
Daniel McDermott said: “I would always recommend car sharing. It’s a no-brainer when you can save that amount of money! And, it’s great to have someone to chat with.
"Sharing a lift has made travelling to work considerably more affordable and convenient. Having someone to speak to throughout also makes the journey go quicker”.
The financial impact the pair have saved collectively is huge, adding up to about £3,500 every year. The implications for the environment are even bigger. Daniel and Tom save an average of three tonnes of CO2 every year.
For more information on how much you could save on your commute to work, visit Liftshare.com’s saving calculator here.
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