Rising fuel costs: New research by Forbes Advisor shows which areas of Lancashire have the least affordable petrol
Forbes Advisor, the financial advising branch of the multinational magazine, used new data from the ONS and Petrol Map to compare average weekly wages in every Lancashire area with the current price of a 55 litre tank of petrol, to discover the local authority worst hit by exploding petrol prices.
The research shows that residents of Pendle will be hardest hit by soaring fuel prices, with the price of a tank of petrol, which costs £85.7 in Lancashire, consuming 21.5% of their £398.6 weekly wage, well above the county’s average of 18.7%.
Blackpool has the second least affordable petrol in Lancashire, with residents paying 21.3% of their weekly wage towards a 55 litre tank of petrol, followed by Hyndburn where it costs 20.3% and Blackburn with Darwen where they spend 19.9%.
Preston also fares badly when it comes to the affordability of petrol, with residents paying 19.1% of their £448.7 wage to fill a tank, placing the city in fifth place.
The final five areas making up the top 10 least affordable in the county are West Lancashire and Rossendale, where residents both spend 18.7% of their wages on a full tank, Burnley and Wyre where it costs 18.5%, and Lancaster where they spend 18.4%.
At the most affordable end of the scale is Ribble Valley, with a 55 litre tank of petrol taking up only 16% of their weekly wage, followed by Fylde in 13th with 16.2%, Chorley in 12th with16.9% and South Ribble in 11th with 18.2%
A spokesperson for Forbes Advisor said: “We’ve seen a new and terrifying increase in people facing increased fuel costs, even though petrol prices have been skyrocketing since last autumn.
“The fact that a tank of petrol is consuming nearly a quarter of weekly wages in areas such as Pendle and Blackpool in Lancashire is extraordinary, and factors have merged to create the perfect storm for fuel poverty.
“Regional disparity in wages mean that the lowest earners in Lancashire are bearing the brunt of skyrocketing petrol costs, and many areas risk being pushed into poverty.”