State pensioners have been handed a boost after a law change affecting every petrol station forecourt in the UK came into effect on Monday.
According to charity Age UK, driving remains the main mode of transport used by people later in life. As of the end of 2022, there were more than 5.6 million people aged over 70 with a driving licence, and older drivers make up almost 14% of all licence holders.
And with the new state pension topping out at just £230.25 per week for someone with a full National Insurance record, older drivers will need to budget carefully to pay for their car, insurance, maintenance and petrol.
And a new law which has come into force this week will hand older drivers a boost, as well as other budget-conscious car owners.
UK petrol station are now required by law to report pump price changes to a Government scheme called Fuel Finder in a bid to make it easier for drivers to find cheaper petrol and diesel.
From Monday, all petrol stations are required to report their prices within 30 minutes of a change.
It means drivers can look on the live Fuel Finder map and instantly locate the cheapest petrol prices in their area. It is hoped that this will help drive prices down as forecourts are forced to compete better to attract customers.
Initial estimates suggest drivers will save at least £40 a year on average.
Age UK says in a report: “Cars continue to be the main mode of transport used by people in later life. There are now 5.6 million people over 70 with a driving licence , an increase of 1.1 million since 2016. Older drivers now make up 13.6% of all licence holders. Continuing to drive is vital for many older people to get to shops, services and health care, and allowing them to remain socially connected, especially in rural places with poor public transport.
"This is essential for many older people who experience mobility problems as they age - as well as their carers. A car may become the only practical form of independent transport in some places.”
Minister for Energy Consumers Martin McCluskey said: “This spring, Fuel Finder will be delivering local petrol prices to your phone, through your go-to mapping and comparison apps.
“Every retailer is required to take part, as we bring down the cost of a tank to tackle the cost of living head-on.
“Real-time prices will drive up competition and is set to see working families save around £40 a year at the pump.”
RAC head of policy Simon Williams said: “We hope this is the start of the journey to cheaper fuel prices around the UK.
“The Government has set up this scheme with the intention of increasing competition among retailers to give drivers better value at the pumps.
“As a growing number of the country’s 8,300 forecourts submit their prices on a daily basis, drivers will be able to easily find the cheapest forecourts near them using their favoured app or sat nav.”
