OCTOBER TAXI FUEL REPORT: Energy price cap increase squeezes price gap between petrol

Another month of gradual decreases in fuel prices have been welcomed in the taxi industry, but rising domestic and commercial energy prices squeeze gap between petrol and electric.

In this monthly TaxiPoint Fuel Report, we use our unique formula to analyse the rapidly changing fuel cost landscape facing cabbies. In the review we look at some of the UK’s most popular cabs which includes the diesel TX4, the electric LEVC TX, and Skoda Octavia.

In August, fuel prices stood at a eye watering £1.96 per litre for diesel and £1.88 per litre for petrol. Those prices have fallen fast for petrol users throughout the month of August leaving the price at £1.70 when filling up from the green pump at the start of September. That figure has thankfully dropped another 8p to £1.62 at the turn of October, with more savings to come prior to the Christmas lead up.

Diesel prices have dropped more slowly sitting at £1.80, a 3p drop from last month.

For electric cabs a new price cap arrives this month which costs an estimated 36p per kWh to charge from home and roughly £11 for a full charge on public chargers for LEVC TX users.

Perry Richardson, TaxiPoint Founder, said: “Both petrol and diesel have decreased and thankfully that trend is set to continue next month as well. If petrol continues decreasing it will soon be cheaper to use petrol rather than charging up on electric for those driving LEVC TXs.

”That said there are still savings to be had when comparing the LEVC TX to the diesel TX4 cab. Ditself prices remain much higher than petrol so cabbies behind the wheel of a TX can expect to save around £45 a week of fuel.’