Mon 30 Nov 2009
15% Petrol Price Hike Presents High Street Christmas Shoppers with £78 Million Bill – Before They Have Even Hit the Shops
Posted by EPR Network under Business, Consumer Services, Economy, Internet & Online, Retail, Shopping, Society
Released on: November 30, 2009, 12:08 pm
Author: uSwitch.com
Industry: Internet & Online
Soaring fuel prices are forcing more consumers to shop on their computers rather than on the high street this Christmas, according to independent price comparison and switching service, uSwitch.com. A 15% rise in petrol prices since last November has pushed the bill for driving to the shops and parking the car up to a staggering £78 million – and that’s before any presents have been bought. As a result, despite the postal strikes that were widely predicted to drive consumers back onto the high street, research amongst uSwitch.com’s consumer panel reveals that over 7 out of 10 (72%) people are doing their Christmas shopping online this year.
The price of petrol, which has climbed from 95p to 109p per litre over the last 12 months has done nothing to help consumers struggling through a tough year. While pressure remains on oil companies to lower prices, the situation is not set to improve imminently. The AA has warned that end of the VAT cut will add an estimated 2.4p per litre to pump prices from January. As a result, shoppers heading onto the high street this Christmas could face fuel bills of up to £8million.
