Fuel costs were identified as the single biggest factor. In June 2010 a litre of petrol cost 133.3 cents but by June this year the price had risen to 151.7 cents per litre. To put that into perspective, a car that does burns 9.5 litres of fuel per 100km (30mpg) over 16,000 kilometres per year uses 1,500 litres. At 2010 prices that would cost €2,000 but this year it costs €2,301.
Other costs have not risen so noticeably. On average, insurance only rose by 1.2 percent with indications that costs actually fell in the last six months. Servicing costs increased in line with inflation at 2.7 percent while interest rates for car finance rose by about 0.5%.
Cars are slightly cheaper to buy in 2011. Band A and Band B vehicle pricing fell by just under two percent, reflecting the interest and competition in these models.
As far as bringing the costs of motoring down the AA advises motorists to shop around for car insurance and look carefully at the type of cover they need.
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