The transition to E10 fuel could cost British classic car owners a combined total of more than £89 million.
That is according to a new study from GoCompare, which has revealed that upgrading every classic car in the UK to become compatible with the new fuel will cost an average of £297 per car.
E10 is a mixture of petrol and ethanol made from materials including sugars and waste wood, estimated to cut transport carbon dioxide emissions by 750,000 tonnes each year.
E10 fuel becomes the standard petrol in the UK from September but although it is a friend of the environment it is not a friend to classic cars.
The report estimates that drivers can either have mechanics update their car for an average of £297 each or continue to use E5 fuel, which will only be available in the more expensive super unleaded form.
The latter option will reportedly cost the car owners around £43 more per year, totalling £11.2 million more spent on fuel if half of Britain’s classic car owners opt to continue using E5.
The report predicts that waiting to upgrade a car will cost more in the long run.
Ryan Fulthorpe, GoCompare, said: “If classic car owners continue to use E5 petrol rather than updating their vehicle, they may pay an extra £43 per year for fuel.
“Our latest figures show that upgrading your car through a specialist could cost a total of £297. Although this is a larger amount to pay upfront, you’ll be able to switch to E10 fuel. That means that you won’t need to pay the higher price for super unleaded petrol.”