Latest figures show slight drop in cost of running a car compared to 2016

The AA says there has been a 10% drop in motor insurance costs, while fuel prices have remained stable

Latest figures show slight drop in cost of running a car compared to 2016

Photo: Eamonn Farrell/RollingNews.ie

There has been a slight drop in the cost of running a car - but it will still set you back over €10,000 a year.

Research carried out by the AA puts the average cost of running a family car - €10,671.37 - is down 1.6% (€178.05) compared to 2016.

The organisation puts the improvement down to stable fuel prices and a 10% drop in insurance costs.

Fuel costs, meanwhile, have increased only slightly (0.46%).

Conor Faughan of the AA spoke to Newstalk Breakfast about their figures.

He explained: "We take a typical band-B car - a small to medium-sized family car doing typical mileage - and we do a calculation that is the total cost of motoring."

He said that the drop in motor insurance is "pretty cold comfort" as insurance prices are on a "12-month cycle" and many people will not have seen a decrease.

He added: "The other thing to remember is that the insurance that we have at the moment is not a 12 month issue - it's been going on for three years.

"If you look at what we were paying for insurance three years ago, typically we've seen an increase of maybe 80% right across the board. Really the only thing we can say about the last 12 months is it didn't get much worse for those who've already taken the hit."