Car rental rates spike in Europe

Car rental rates are increasing dramatically in Europe and British holidaymakers are being hit hard by the extra costs as they head off on their summer vacation. According to some media estimates, rental prices have risen by such significant proportions in several continental European countries, that Britons may find that their vacation is now around £200 more expensive per week, than it was last year. Those countries that were previously considered to be far more economical travel options-such as Greece-are now pricier than ever, thanks in part to higher rental fees.

Yet the real problem has just as much to do with car hire fees as it does with record high fuel prices across Europe. In fact, the cost of petrol jumped by more than 80 percent in some countries, compared to last year’s figures. The other factor that has made car rentals much more expensive for Britons this summer is the falling value of the British Pound against the euro, and even in comparison to Central European currencies, such as the Hungarian forint.

Greece appears to be especially popular with Britons, as more than three million UK residents travel here on an annual basis. This summer, however, ordinary British holidaymakers may be in for a surprise when they receive their car rental bill. While only a year ago, most renters would have paid an average of £124 on rental fees and petrol during their holiday, this figure has since jumped to £249. When the less advantageous currency exchange rates are also calculated in, British tourists will find their wallets are even harder hit.