How To Save Money On Rising Fuel Prices

At what seems like the most expensive time to be a driver, we have seen fuel prices hit a record highs in the UK. The average price of petrol is now 188.74p per litre and diesel is 196.36p per litre, and in June 2022 we have seen petrol’s biggest daily jump in 17 years, going up by 2.23p. On the same day in June, diesel increased by almost 1.5p.

Prices were hitting new daily records for several weeks up until the middle of March after the war in Ukraine sent fuel prices skyrocketing due to fears of future fuel shortages, with Russia being the worlds third largest oil producer.

In the Spring Budget in March 2022 Chancellor Rishi Sunak slashed fuel duty on petrol and diesel by 5p a litre until March 2023, in an attempt to counter previous record prices of fuel.

Millions of households are already struggling to cope with the cost of the living crisis, amid a rise in almost every household bill. And with people also have car payment outgoings to think of, people are trying to figure out how they can save some money when it comes to filling up their fuel tanks.

Motorists have also been warned to expect further rises in fuel prices, due to the ever increasing cost of oil production, which has grown by 60% in the last 12 months. It has also been impacted by a growing need for crude oil which had collapsed at the start of the pandemic, but is now rising due to the surge in post-pandemic travelling.

Petrol from supermarket pumps tends to be more affordable than fuel bought at independent forecourts, desire the fact that it usually comes from the same source. This is because the bigger brand names will often add their own special additives to their fuel to help boost its performance and efficiency, meaning that it costs more.

And although we are seeing fuel prices get out of hand, there are some ways you can cut back on costs by adjusting your driving style to fuel efficient driving.

A popular fuel saving technique is to turn off cruise control on curvy roads, and when ascending or descending. You can also turn off your warm engine when you have to wait at a red light for more than 30 seconds. In addition to this, when driving at low speeds, you should open your car windows and turn off the air conditioning, and similarly, in the colder weather you should dress warmly to lower or even completely turn off your car heating.

One of the most efficient fuel saving tips is to maintain a constant speed when driving for as long as possible, as stop and go driving uses more fuel. When it comes to accelerating, you should do so gently, as this can also save pounds.

Regular car maintenance should also not go amiss, as this is a huge underestimated fuel saver. You should ensure you are using the correct engine oil, and you can identify which oil you should be using in your car’s manual handbook. You should also be maintaining your tyre pressures, as this can save fuel, as well as being beneficial to your general driving safety.

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