TAXIPOINT FUEL REPORT: Now cheaper to run a taxi on petrol than use public rapid chargepoints

Just when we all thought fuel prices were steadily decreasing, the volatility of the UK pump prices was obvious once more this month... with more of the same likely to follow.

In the ongoing 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.

DIESEL

At the beginning of October, TaxiPoint reported a black pump fuel price standing at £1.80. That represented another much-needed decrease after seeing prices rise to a staggering £1.96 two months earlier. Sadly, for drivers of the TX4, Mercedes-Benz Vito and the Skoda Octavia, those prices are on the rise again sitting at £1.90 at the start of November. Those prices are also ‘likely to rise’ according to RAC sources.

PETROL

Cabbies pushing a petrol cab have had the better deal when compared to their diesel counterparts. Green pump prices stood at £1.62 at the start of October, and like diesel users, cabbies have seen this figure creep in the wrong direction back up to £1.67. At the start of November, the gap between petrol and diesel sits at a whopping 23p. Fuel experts say petrol prices should plateau off in the coming weeks.

ELECTRIC

This is where the biggest volatility exists right now. One of London’s leading rapid chargepoint providers, ESB Energy, announced their new pricing plan for black cabs. Those with a London Taxi Membership can now look forward to paying a massive 69p per kWh. Taxi drivers in Birmingham will pay 73p and those in Coventry 68p.

That ESB Energy increase now makes it CHEAPER for LEVC TX owners to run off the range extending petrol fuel source. How this plays into the Mayor of London’s greener street plans is hard to fathom and brings the question of why older vehicles are being removed in the current climate firmly into the spotlight again.

That said, because of the gap between petrol and diesel, there are still some savings to be had between the TX and TX4 using the Internal Combustion Engine (ICE).

Perry Richardson, TaxiPoint Founder, said: “The fuel market is absolutely crazy at the moment. The big rise in electricity will be hurting those that invested in greener vehicles in the short-term, but those costs will be eventually passed on to the passenger via tariff reviews.

“As for diesel owners they are in for a hard few months. Expect the price to sadly rise again over the coming weeks.”