Self-drive holidays on trend as fuel costs plummet

UK holidaymakers planning to drive rather than fly to eurozone holiday destinations can expect a double boost to their spending power that will cut their petrol costs by between 20 and 25 per cent – according to research by Post Office Travel Money.

This is because the cost of crude oil has plummeted at the same time as sterling is surging to its highest rate against the euro in years.Self drive

Furthermore, while tourists will have to wait months to see a fall in flight prices because airlines bought the fuel they are using now before oil prices and the euro fell, holiday motorists can bank on getting an immediate boost to their driving power.

In the UK drivers have already benefited from fuel cost falls of around 15 per cent – but Post Office Travel Money says the price crash across Europe is even bigger. Compared with pump prices researched for its 2014 Motoring on the Continent report, Andrew Brown of Post Office Travel Money said: “People planning motoring trips to Europe this spring can bank on the cost of a litre of unleaded petrol being up to 25 per cent lower than last summer. Prices are as much as 16p cheaper than in the UK and this rises to 35p for diesel.”

The biggest falls in the eurozone are in Ireland, a country popular for self-drive holidays. Prices are down 25 per cent for unleaded petrol (99p) and 24 per cent for diesel fuel (95p). This translates to a saving of over £49 over last year on the cost of driving a car for 1,000 miles using unleaded petrol (£150 compared with £199.80).

Furthermore, Ireland is just one of five countries surveyed by the Post Office where unleaded petrol has breached the £1 per litre barrier. Even more – seven eurozone driving destinations – are charging under £1 for diesel. Those prices compare with a UK average of £1.09 for unleaded petrol and £1.16 for diesel.

Europe’s cheapest fuel is in Luxembourg, where prices are standardised at all petrol stations. Motorists can expect to pay 87p a litre for unleaded and even less, 81p, for diesel.

The most popular places to drive in Europe are almost as cheap. In France, the country where over half of UK drivers who have taken their car abroad have driven¹, motorists will save almost 24 per cent on unleaded petrol compared with a year ago, now priced at 99p a litre. Diesel drivers can shave a further seven pence a litre off that price.

Spain, another popular driving destination for UK tourists, has also registered big falls with a litre of unleaded costing 93p – a fall of 23 per cent – and diesel priced at 89p – a 22 per cent fall.

Away from the eurozone, the picture is also positive in Switzerland, historically one of the cheapest places to drive in Europe. Despite its recent currency revaluation, the cost of unleaded petrol has dropped by 15 per cent to bring a litre close to the £1 threshold at £1.01.

Although its currency has fallen even further than the euro against sterling, by 15 per cent, Norway is still the most expensive place to drive. However, litre prices have dropped by 30p for unleaded petrol and 24p for diesel since last year. Drivers using unleaded in Norway will fare worst with a litre price of £1.33 to pay – 40p more than in Spain.

THE COST PER LITRE OF UNLEADED FUEL

 

Country % +/- 2015 vs 2014 2015 vs 2014 2015 2014
Ireland -25.0% -0.33 £0.99 £1.32
Austria -23.9% -0.28 £0.89 £1.17
France -23.8% -0.31 £0.99 £1.30
Luxembourg -23.7% -0.27 £0.87 £1.14
Germany -23.5% -0.32 £1.04 £1.36
Spain -23.1% -0.28 £0.93 £1.21
Belgium -21.9% -0.30 £1.07 £1.37
Italy -20.4% -0.31 £1.21 £1.52
Netherlands -20.0% -0.31 £1.24 £1.55
Norway -18.4% -0.30 £1.33 £1.63
UK -16.4% -0.22 £1.09 £1.31
Switzerland -15.1% -0.18 £1.01 £1.19

 

THE COST PER LITRE OF DIESEL FUEL

 

 

Country % +/- 2015 vs 2014 2015 vs 2014 2015 2014
Austria -24.3% -0.27 £0.84 £1.11
Ireland -24.0% -0.30 £0.95 £1.25
Germany -22.7% -0.27 £0.92 £1.19
Spain -22.0% -0.25 £0.89 £1.14
Italy -20.3% -0.29 £1.14 £1.43
Luxembourg -19.8% -0.20 £0.81 £1.01
Netherlands -19.5% -0.25 £1.03 £1.28
Belgium -18.5% -0.22 £0.97 £1.19
France -17.9% -0.20 £0.92 £1.12
Norway -16.1% -0.24 £1.25 £1.49
UK -15.3% -0.21 £1.16 £1.37
Switzerland -13.0% -0.16 £1.07 £1.23

 

 

You might also like

Comments are closed.