Edinburgh named Scotland's most expensive place to park amid soaring petrol prices

The cost of living is rising as we all know with bills going up for millions of households across the UK.

It's not just our energy and shopping bills that are seeing this increase however with petrol prices sky rocketing in recent months.

As a result, owning a car is becoming a little more costly than most of us would like. And now a new study has shown just how expensive it is for motorists.

READ MORE: Plans for African street food cafe and bistro in Edinburgh's New Town

The recent study by Rivervale Leasing looked into the average cost of driving, taking into account the average cost of insurance, fuel, parking, tolls, repairs, servicing and road tax in the 50 most populous areas in the UK.

Data revealed that drivers in the UK, on average, spend a staggering £3,800 per year - without actually buying the car itself. And it was Edinburgh that came out on top as the most expensive Scottish city whilst taking second place overall in terms of UK cities.

When it came to the Capital, the study revealed that not only did Edinburgh come second overall and first in Scotland, but we also took third place when it comes to the most expensive places to drive in the UK.

Parking in Edinburgh city centre is said to "seriously set you back costing a massive £3,483 per year – higher than any other area, bar the City of Westminster."

The add: "Outside its pricey parking, however, the study found that Edinburgh’s insurance prices aren’t so high compared to other areas at £472, and there are no major tolls to pay.

"But if you do want a spot in the city centre, you’ll need to fork out. The huge cost of parking means that Edinburgh is the third-most expensive city on our list, costing £5,390 annually."

Drivers could be spending over £3k to park in these areas each year, with a huge £3,483 in Edinburgh alone. (Rivervale Leasing.)

The UK's top 10 most expensive cities for parking

Rivervale Leasing's data was collected in May 2022.

1. City of Westminster - £3,684

2. Edinburgh - £3,483

3. Islington - £3,007

4. Glasgow - £2,838

5. Liverpool - £2,780

6. Belfast - £2,744

7. Manchester - £2,565

8. Croydon - £2,504

9. Oxford - £2,358

10. Newport - £2,283

READ NEXT:

• Hooded Edinburgh man caught on camera 'stealing milk bottles' from doorstep

• Exercise could combat fatigue among arthritis patients says Scottish study

• Edinburgh pension company Standard Life cuts jobs as roles outsourced to India

• Edinburgh set for week of rain as city set for summer weather wipeout

• Aldi confirms plans for a new Edinburgh supermarket in Drylaw