With an estimated 30 million cars in the UK, the price of diesel, petrol, and electricity to fuel our vehicles have been a headache for many of us with increasing concern over rising prices.
With that in mind, Xcite Car Leasing has reviewed how the cost of fuel in the UK compares to other European countries and the United States to see where drivers are feeling the pinch the most. Our research digs deep into the nitty-gritty of fuel prices creating a ranking based on an index calculating the cost of petrol, diesel, and electricity, as well as the number of EV chargers per square mile.
The index has mapped out the costliest and cheapest places to fill up your tank, revealing surprising insights, shocking disparities, and how costs are likely to change over the next 25 years.
The UK is the third most expensive country
Unsurprising to many UK drivers, according to our index, the UK is the third most expensive country for fuel.
The UK has the second highest electricity price kWH of the 22 countries analysed at £0.34, with just Italy more expensive at £0.359. The price of diesel in the UK was also the fourth most expensive of all countries analysed at £1.56, while petrol came in at £1.46.
However, the UK did fare well for the number of EV chargers per square mile, scoring 17 out of a possible 22 for that category. Based on our data, the UK has an average of 0.6 EV chargers per square mile, with that set to increase as more people make the switch to electric.
Americans pay almost half the price for fuel compared Brits
Turkey and the US scored the best for cheapest fuel costs, with the US just narrowly beating Turkey with cheaper costs for both petrol and diesel. At the time of analysis, the cost of diesel per litre in the US was £0.83, with petrol an even lower cost of £0.76. In Turkey, the cost of diesel was slightly higher but still a respectable £1, with petrol £0.99.
Italy is the most expensive country for fuel
Based on our index of fuel, diesel, and electricity prices and the number of overall EV chargers per square mile, Italy ranks as the most expensive country. While they do not have the most expensive petrol and diesel costs – that crown goes to Denmark and Switzerland – they do score the lowest across all points on our index, resulting in an overall score of just 27 compared to the US and Turkey’s 67.
A standard family car could cost more than £500 in fuel per month
The UK’s projected diesel price by 2050 could be a staggering £2.63 per litre, meaning to fill a Vauxhall Mokka, for instance, with a full tank holding 53 litres would cost £139.39. With the average UK driver needing to visit the petrol station once every eight days, it means a month’s worth of diesel could end up costing £542.11.
This drops slightly to £121.90 to fill up a petrol Mokka, with the forecourt price projected to be £2.30.
Although it is motorists in Switzerland who are projected to face the largest price rise. Swiss drivers face paying £4 per litre of diesel by 2050 if the price was to continue to increase as it has in the last five years. They also face the highest predicted price for petrol by 2050, at an estimated £3.56. This is followed by Denmark with an estimated £2.93 per litre.
The switch to EV
Despite having the cheapest diesel and petrol prices, the US and Turkey lag behind when it comes to the number of EV chargers per square mile – 0.05 for the US and 0.025 for Turkey compared to a staggering 9.02 in the Netherlands.
The UK currently has 53,000 charge points but this is expected to rise by approximately 200,000 over the next 25 years as more drivers make the switch to EV.
For more information, https://xcitecarleasing.co.uk/blog/what-countries-pay-at-the-fuel-pump/.
