Motorists are feeling the pinch. Prices at the pump are rising while most people’s pay packages have barely kept up with inflation in recent years.
But so too are rail users. Many fares will rise by 6.2 per cent while some commuters will face an 11 per cent hike.
New research from IPPR today shows that although it may not feel like it as rising oil costs push up petrol prices, motorists have actually done fairly well over the last decade—especially compared to rail and bus users. From 2000 to 2010, total motoring costs – that is including purchase costs, maintenance, petrol, taxes and insurance – have fallen in real terms by 8 per cent. Meanwhile, rail fares have increased by 17 per cent and bus and coach fares by 24 per cent.