Photo: °Florian / Creative Commons
Traffic congestion is costing the economy more than £4.3 billion ($6.9 billion) a year, or £491 ($790) per car-commuting household, according to the survey by the Centre for Economics and Business Research and traffic information company Inrix.More than £426 million ($685 million) is wasted on fuel alone a year, the survey said.
The cost in terms of lost time is £331 ($533) per commuter a year, or £2.7billion ($4.3 billion), while hold-ups to business or freight vehicles amounts to £1.1 billion ($1.8 billion) annually being added to household costs.
Around 40 per cent of the gridlock costs occur in the London area, with commuting drivers spending 66.1 hours a year stuck in jams.
The cost of idling in traffic in London is £15.19 ($24.44) per commuter compared with the UK national average of £12.51 ($20.13).
Bryan Mistele, chief executive of Inrix, said: “Traffic congestion impacts everything from how long it takes us to get to work and the amount of fuel we consume in our vehicles to the costs of food at the grocery store.
“As the UK continues facing times of austerity and high unemployment, the study indicates the efficient movement of people and commerce across our road networks is essential to fostering a healthy, vibrant economy.”
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