December 20, 2008

GOOD NEWS FOR DRIVING SCHOOLS AS FUEL PRICES CONTINUE TO FALL

The tumbling prices of crude oil, which has dropped by almost $100 a barrel since its July peak of more than $147, has resulted in forecourt prices dropping from around £1.20 a litre in July  to 94p, on average.
The price of petrol is now expected to drop to 87p before New Year. Morrison’s, the supermarket chain, has already cut the price to 89.9p a litre for unleaded at all its 287 UK forecourts, and Asda, Sainsbury’s and Tesco have all said they will follow suit.
This has a significant effect for driving instructors. At 30mpg, and petrol at £1.20 a litre, 25, 000 miles costs £4, 542. At 90p a litre, the cost is reduced to £3,408-a reduction of £1134, or 25 per cent less.
At 25,000 miles a year, an increase or decrease of just 10p per litre-46p per gallon-in the price of fuel results in a difference of £384.
Britannia Driving School has held driving lesson prices to what they were in September 2007, in spite of the spike in petrol prices in July 2008.
Are you a driving instructor? How has falling petrol prices affected your business? What are your thoughts on this article? Send us your views using the comments link below:

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