Petrol and insurance hikes see cost of motoring soar

THE cost of motoring rose dramatically in 2008, with large increases in the price of petrol and motor insurance.

However, new figures published by the Central Statistics Office also show that the price of both new and second-hand cars fell by almost 5%.

Motorists suffered a double-blow last year as the price of petrol increased by 13.4% on average, while the price of motor car insurance also rose by 14.3%.