Driving around Menorca for two weeks is an annual tradition for Natalie Ward and her family. But they have had to change their plans for the first time in 12 years due to the staggering cost of holiday car hire. The family of four usually pay between £60 and £350 to rent a car during their trip. But this July, the cheapest deal they found was more than three times that, at £1,200 for a fortnight. That is more than the price of an all-inclusive holiday to Menorca in August, where a two-week stay at the Globales Apartments Binimar, Cala’n Blanes, with flights from Stansted, costs from £710 per person, according to Travelsupermarket.