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Price of Petrol At An All-Time High – Personal Finance Expert Reveals Tips For Saving Money On Fuel

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The RAC has revealed that petrol and diesel could reach £2 a litre in the UK this summer, as costs hit an all-time high.

The Motoring Organisation has warned that it could soon cost more than £100 to fill an average car with petrol, whilst a tank of diesel already costs around £102.

Rising petrol prices are due to the increased cost of crude oil, which ​​is used to make petrol and diesel. Suppliers have struggled to keep up with the increased demand for energy post-pandemic, causing prices to rise.

Following this news, Brean Horne, a personal finance expert at NerdWallet, has shared five ways motorists can cut down on petrol costs and reduce their fuel consumption:

  1. Check Tyre Pressure

Under-inflated tyres mean the engine must work harder to keep the vehicle moving, burning more fuel. Regularly checking tyre pressure, especially before long journeys, will help keep fuel consumption down and helps your tyres last longer.

Check the vehicle’s handbook to know the recommended pressure for your tyres. The pressure may also be printed on the sill of the driver’s door or inside the fuel tank flap. This should be checked at least once a month and before a long journey.

  1. Switch the Engine Off

Leaving the engine running while a car is stationary consumes more fuel. It’s best to switch the engine off when your vehicle is at a standstill, such as in heavy traffic or waiting at traffic lights.

Some newer vehicles are being fitted with stop-start technology, which does this automatically.

  1. Avoid Unnecessary or Short Journeys

Taking multiple short journeys has an impact on fuel consumption. Longer journeys allow the car’s engine to warm up to its most fuel-efficient temperature, so it’s more efficient to make one round trip instead of lots of small ones when you can.

It could be helpful to keep track of your household’s weekly mileage and factor in journeys which could have been avoided or merged into one trip. Where possible,  it is also beneficial to swap short car journeys out to walk/cycle these instead. This will keep fuel consumption and costs down, but it will also benefit your physical fitness!

  1. Take Out Fuel Loyalty Cards

Several supermarkets and petrol stations allow customers to use loyalty cards or cashback schemes to help cover the cost of petrol. The retailer offers loyalty cards to encourage customers to continue using their services.

Some examples of supermarket loyalty cards include the Morrisons More card, Tesco Clubcard, and Nectar Card, and example petrol station loyalty cards include Shell Go+ and BPme Rewards.

  1. Drive More Smoothly

Heavy braking and harsh acceleration have a significant impact on fuel consumption. Driving more smoothly will limit fuel consumption and decrease the amount of wear and tear on the vehicle.

Being aware of the road ahead and other road users will help you drive more smoothly and avoid abrupt speed changes.


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