With rising fuel costs adding to the cost-of-living crisis, there’s never been a better time to consider using a bike to commute to work. While many of us already own a bicycle, there are still significant travel savings to be made, even when factoring in the cost of buying a new bike.
But exactly how much money could you save by commuting on two wheels? We’ll explain the cost benefits of riding a bike and how you can easily calculate the savings.
What are the cost benefits of commuting by bike?
We understand that cycling may not always be a practical option but travelling by bike more regularly wherever possible can soon lead to financial rewards. Even on modest commutes, you’ll still save money by being less reliant on a car and become less impacted by rising petrol prices.
Not only will riding a bike more regularly be easier on your wallet, it’s also great for physical and mental wellbeing, as well as a more sustainable mode of transport.
If you’re in need of some new cycling gear, take a look at our full range of bikes and bike accessories and get yourself back in the saddle.
How much is petrol per mile?
We’re all feeling the pinch as a result of rising petrol prices. On a per mile basis, average petrol costs are around 20.1 pence per mile and around 17.9 pence per mile for diesel.
How much money can I save with an electric bike?
Electric bikes are a fantastic option for avoiding increased petrol and reducing your carbon footprint. There are also big savings to be had when you compare the travel costs between e-bikes and electric cars.
For example, not only is the upfront cost of a Carrera Crossfuse electric bike considerably cheaper than a Tesla Model 3, but the running costs are also tiny by comparison. A 20-mile journey on a Carrera e-bike will cost about 4p vs 90p for a Tesla and £1.27 for a Kia e-Nero*.
How to calculate the cost savings of commuting by bike
It may seem challenging to calculate the exact savings of commuting by bike, but Halfords have a handy tool to help. Why not try our useful ‘Cyculator’ that will show you how much you could be saving on your commute?
Simply enter your commute to and commute from locations into the search bars and hit the calculate button to see the time differences and annual cost savings between travelling by bike, car, and public transport.
With the multiple benefits to be had when commuting by bike more regularly, anyone with a reasonable commute should consider this option. Even if it’s just for a couple of days each week, cycling to work is a great way to keep active while also keeping your travel costs down.
So, what are you waiting for? Check out the Cyculator today and discover how much money you could be saving on your commute.
* Calculations based on data from NimbleFins.
