Inflation at the petrol station has 47 percent of drivers in the EU cutting down on trips and 34 percent opting to walk or bike instead
LOS ANGELES, March 07, 2022), which helps consumers find auto insurance policies at fair prices, today released new data which shows 96 percent of European Union (EU) car owners are concerned about being able to afford petrol, amid an inflation concern hitting petrol stations globally. Further, 47 percent of drivers have said they're driving less and taking shorter trip to counter rising prices at the pump.
The survey of more than 1,500 car owners in the U.K., U.S. and EU reveals what they pay at the petrol station and steps they have considered to afford the increased cost - or reduce consumption.
AutoInsurance.com's new research can be found at:
https://www.autoinsurance.com/research/reactions-to-rising-gas-prices/
In the EU, specifically:
- 96 percent of EU drivers are concerned at some level about being able to afford petrol, while four percent said they are not at all concerned
- To mitigate higher petrol prices, 47 percent have reduced the amount or distance they drive, and 31 percent have reduced spending in other areas
- 34 percent have chosen to ride a bike or walk instead of driving, 32 percent switched to public transportation, and 2 percent purchased an electric or hybrid vehicle
Averages across the U.S., U.K. and EU show:
- Nine in 10 drivers in the U.S., U.K, and EU are at least slightly concerned about being able to afford petrol if prices continue to rise. This rate was highest (96 percent) for drivers from EU nations
- Thirty-six percent of drivers said they are "moderately" or "extremely" concerned about being able to afford petrol if prices continue to rise. This rate was highest (47 percent) for drivers from EU nations
- Forty-five percent said they've reduced the amount and distance they drive, and 31 percent reduced their spending in other categories
- Twenty-one percent say they have traded driving for walking or bike riding
"Our research found driving less, taking shorter trips, and cutting spending in other areas are the most common ways people are managing petrol prices," said Ryan McGonagill, director of industry research at AutoInsurance.com. "With spring around the corner and more people taking to the roads as the weather gets warmer, it's safe to say that drivers should brace for even higher prices in the months to come."
Whether the ongoing conflict in Ukraine will continue to roil crude oil markets and impact the price at the pump remains to be seen.
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https://www.autoinsurance.com/research/distracted-driving/
https://www.autoinsurance.com/research/labor-day-accident-statistics/
Learn more by visiting us at https://www.autoinsurance.com/.
CONTACT:
Steve Stratz
For AutoInsurance.com
206.300.9134
steve@relevanzpr.com
