Concerns have been raised that driving is becoming increasingly unaffordable for young people as research shows running costs continue to rise each year. In the past year, the cost for drivers aged 17-24 rose by an average of £385 with the primary reasons being higher fuel and insurance costs.
The figures were given as part of Comparethemarket’s latest Young Drivers research which analyses the cost of insurance, fuel and road tax. The results show that on average, a 17- to 24-year-old motorist will now pay £2,448 to run a car for a year - which the price comparison site says is the highest figure since this research began.
The typical annual fuel cost for a young motorist has increased by £244 in 12 months, rising from £748 to £992. Car insurance is responsible for half of the overall running costs (50%) for young drivers, who typically pay the most compared to other age groups.
