Cost of running a car rockets by 20 percent in 12 months

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Running a car has certainly seemed pricier recently, but new figures have confirmed it is actually more than 20 percent dearer to keep a vehicle on the road than it was this time last year.

The average annual cost of running a car has been calculated to be £3,089.51 - an increase of 51.1 percent over the last twelve months according to Sainsbury's Finance.

But the biggest rise identified by the supermarket (perhaps unsurprisingly considering its latest financial services venture) was motor insurance, with the average premium cost rising by 30.7 percent to £814.80 from £623.56 last year. Fuel costs have risen by a considerable 22.9 percent, up from £1,400 to £1,720.69.

There is no let up in any other area of automotive costs either, with road duty, servicing and MOT bills all on the rise as well. Tax has gone up by 5.1 percent, while garages have been forced to increase servicing bills by 5.4 percent.

Ben Tyte, Head of Motor Insurance, Sainsbury's Finance said: "The cost of motoring has soared in recent months as all costs, but particularly fuel prices and insurance premiums, continue to rise. The cost of driving can be kept better in check by shopping around, particularly for fuel and car insurance."