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We’re living in a world where costs are going up faster than anyone imagined. It’s affecting everyone, from individuals and families to businesses and employees.
But now, it’s been revealed that 90% of tradespeople will be increasing their prices thanks to the increased costs of petrol and diesel. This could mean that installing a new kitchen or bathroom or having other types of renovation work done on your home could cost significantly more than it has done in the past.
IronmongeryDirect did some digging to find out how much this cost increase could be. They surveyed 500 tradespeople to bring us the answers and reveal the impact fuel prices are having on construction and home renovation.
How can fuel prices affect construction?
Tradespeople are claiming that the significant increase in fuel means they’re spending a lot more money travelling to and from jobs. It’s for this reason that such a high number are looking to increase their prices, covering the cost of petrol or diesel for their work van.
But how much of a price rise are we talking about?
The survey found that on average, tradespeople will increase their prices by about 24%. The cost increase won’t be applied to materials or supplies but their labour. This could take a labour charge of £1,000 to £1,240, as an example.
As well as trying to increase costs, some tradespeople plan to stop driving altogether. In fact, around 14% say that they are using public transport to get to jobs, because they can’t afford the cost of fuel.
Unfortunately, this isn’t possible for all tradespeople. Almost every respondent (96%) said that their livelihood is reliant on their vehicle, as many have necessary equipment to transport or require space in vans and trucks for supplies and materials.
Lots of workers also stated that they drive over 5,000 miles a year for jobs, on average, and this would be tricky to achieve on public transport. This annual mileage will now cost individuals almost £500 more for diesel vehicles, and over £450 for petrol users, than it did this time 12 months ago.
Almost half (47%) of tradespeople say that their profits are being affected by the fuel crisis, and a third (33%) say that their company is struggling to cope.
The trades planning on increasing their prices the most because of rising fuel costs are:
| 1. | Scaffolder | 39% |
| 2. | Roofer | 35% |
| 3. | Bricklayer | 34% |
| 4. | Building surveyor | 30% |
| 5. | Electrician | 28% |
| 6. | Plasterer | 27% |
| 7. | Carpenter | 26% |
| 8. | Joiner | 25% |
| 9. | Builder | 22% |
| 10. | Plumber | 22% |
| 11. | Painter decorator | 16% |
| 12. | Landscaper | 16% |
On average, they are set to increase prices by 24%.
How to reduce fuel costs – for tradespeople
For those who have no choice but to continue driving, motoring experts Euro Car Parts have shared their top tips for tradespeople on how to increase your fuel efficiency and save money:
1. Manage your revs
The most fuel-efficient RPM to change up a gear is 2,500 for a petrol vehicle and 2,000 for diesel. So next time you’re changing gear, keep an eye on the revs count, stick to that number and the pennies you’ll save will soon stack up.
2. Slow down on high-speed roads
The most efficient speed to drive at is between 55 to 65mph, and driving at 70mph compared to 80mph on a motorway could save you 25% more fuel.
3. Turn your engine off
Keeping your engine idle whilst stationary still burns fuel, so if you know you’re not going to be moving for a while, turn it off to conserve your petrol or diesel.
Dominick Sandford, Managing Director at IronmongeryDirect, said:
“The fuel crisis is affecting all of society, but people who drive regularly as part of their job, like most tradespeople, are being hit particularly hard.
“Worryingly, its independent traders who will feel the most impact, as their profit margins are likely far narrower than larger corporations, who may be able to ride out the wave.
“Hopefully prices will begin to fall before too long, but in the meantime, reducing mileage and increasing fuel efficiency will help to slightly soften the blow.”
For more expert advice on how to reduce your fuel costs, and how much rising prices will affect your profits, visit: https://www.ironmongerydirect.co.uk/blog/how-tradespeople-can-reduce-their-van-fuel-costs
