Many frugal motorists have received a shock following research that reveals their money-saving methods aren’t so economic after all.
Insurance comparison website MoneySupermarket questioned 2,000 drivers on just how far they would go to save the pennies on their fuel shop, and found that an average of 43% of drivers would be willing to make a detour of up to 2 miles to save a penny per litre of fuel. This figure comprises of 46% of men and 39% of women.
However, what the driver’s didn’t realise was that their efforts were actually wasting significantly more fuel per month than they were saving – £10.90 of petrol or £16.02 of diesel, to be precise.
In total, bargain-hunting Brits are wasting up to £528 billion every month on these little detours.
It has to be noted that not everyone is losing out. Motorists who make a detour of one miles or less and pay 5p per less on a litre of fuel were found to save £2.32 for every 50-litres they filled up.
A spokesman for MoneySupermarket commented: “It’s no surprise cash strapped motorists are seeking out cheaper petrol prices, especially at a time when prices are finally falling – particularly for diesel – at some, but not all, stations.
‘Yet while driving a bit out of your way for cheaper fuel might seem like a simple way of cutting costs, the reality is that it can be a false economy, and could actually cost you more.'
August 12, 2015