Rising Cost of Fuel – How To Cut Costs
22nd November 2011
Continued increases in fuel prices have seen a number of households struggle with their finances in recent times. With more increases on the horizon, finding ways to reduce fuel expenditures is a concern for motorists. So, how can you cut costs?
Petrol prices had already reached a record high of 130p per litre in March 2011, rising by 10% over that month according to the BBC. Recent speculation by Money Expert has suggested these prices could rise to as much as 145p per litre by 2012, meaning that drivers need to increase their focus on saving money at the pumps.
Fuel efficiency
Investing in a fuel efficient car is the first way to help cut costs. Fuel efficiency is represented as a numerical figure for the average number of miles which can be driven on each gallon of fuel. This figure should always be taken into account when purchasing a new vehicle.
Conscientious driving
One key point to remember is that more fuel is used when harsh acceleration is required. Maintaining an average speed throughout your journey and increasing or decreasing gradually will subsequently cut costs. It could also help you to avoid any potential accidents.Driving at slower speeds can also help to save money on fuel. The Guardian recently reported that driving at 80mph uses 10% more fuel than driving at 70mph.
Car Maintenance
According to the RAC, correctly inflated tyres can improve fuel consumption by 2%. Regular maintenance checks should, therefore, be conducted on vehicles to help lower fuel consumption and the associated costs. Make sure you have breakdown cover in place.
Car Insurance
You could save money by getting Asda to search the top car insurance people for you. Arrange cover quickly, easily and save yourself up to 10% when you buy online.
Weight
Heavier vehicles will require more energy and will subsequently use more fuel. Reducing the weight of a vehicle can really help to cut fuel costs. Haynes has claimed that additional items, such as roof racks, can increase fuel bills by 30%. However, AutoExpress have countered this point, claiming that those with aerodynamic designs did not affect prices anywhere near as much.
Price Comparison
Although petrol prices have shown increases across the board, it is possible to get more competitive rates from some suppliers. Drivers should compare the petrol prices offered by different petrol stations in their local area and use the one which is cheapest.
Customers should always try to avoid attempting reaching a “round number” when filling up. Many people like to spend a flat amount, such as £25, on their fuel and trying to hit a round figure can see people spend more than they originally intended. Keep a rough figure in mind but don’t worry if the end cost is a few pence over or below.
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