New driver news - Young driver car insurance holders hit by raising fuel prices

Quote news - Young driver car insurance holders' costs of running a vehicle

The cost of young driver car insurance may be the least of new drivers' worries, since petrol prices have also risen steeply during the first part of 2011.

Motoring experts state that the price of diesel fuel has reached a record high of £1.40 per litre. A year ago diesel cost £1.17 per litre and petrol cost an average of £1.16 per litre.

A spokesperson for the motoring industry said, "A 10p rise in the pump price of diesel since the start of the year, equivalent to an extra £5 for even the smallest of tanks, is a staggering extra burden on private and business drivers."

However, most motorists were hoping that the Chancellor of the Exchequer, George Osborne, would announce in the budget that he would not go ahead with the fuel duty increase, timetabled for April 1st and he did not let them down, stating, "There will be no fuel duty rise this year."

He also announced a one penny per litre price reduction on fuel from 6pm on the night of the budget and the introduction of the fair fuel stabiliser which so many motorists have wanted to see put into place. The announcement was met by cheers from many parliament members.

Young drivers have been particularly affected by high motoring costs, but money experts suggest they could find competitive young driver car insurance quotes from companies which offer alternative motor cover products such as telematics car insurance.