Motorists spend £56,000 on petrol during their lifetime

Lifetime cost of petrol

Have you ever stopped to consider how much money you spend on fuel over the course of your lifetime?

If not, prepare to be shocked. New research conducted by EDF Energy has revealed that the figure could exceed £56,000. Maybe it’s time to fast-track the purchase of an electric vehicle… 

The research found that the cost of petrol and diesel is a serious concern for drivers, with 84 percent of the 2,000 motorists surveyed saying that fuel is “too expensive”.

Meanwhile, a third of motorists have been put off driving due to the cost of fuel, while 75 percent have gone out of their way in search of cheaper prices.

40 percent are considering an EV

hybrids better for short term CO2 reductions than EVs

It’s hardly surprising, then, to discover that 40 percent of drivers are considering making the switch to electric, which could save them around £41,000 over their lifetime.

Beatrice Bigois, managing director of customers for EDF Energy, said: “Many of us aspire to owning an electric vehicle.

“This research shows that, not only will electric cars help motorists save money on their fuel costs, electric vehicles will help more people do more of the things they want to, like exploring more of the UK – all while helping the environment by reducing emissions.

“For this vision to become reality for more drivers, we have to make the decision as easy and attractive as possible for our customers.”

And 70 percent expect to own an EV

Tesla's Model 3 is the most popular electric car to lease in the UK

EDF Energy has partnered with DriveElectric to create a GoElectric leasing package for EV drivers. Customers leasing an electric car via EDF receive a free home charger and 10,000 miles of worth of charge at no cost.

Monthly rental costs start from £299, with the Tesla Model 3 available from £418 and the Jaguar I-Pace from £529.

Seventy percent motorists surveyed expect to own an electric car at some point in the future, with a quarter claiming they will go electric within the next five years.