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2022 Fuel Costs - What Can I Do?
How you can save money as fuel prices continue to soar.
We wrote about the rising costs of fuel only a few months ago, at a point where 143p per litre was a notably high price. Now, as diesel and petrol prices rise further, we want to help you to save some money and avoid some of the sudden cost increases that businesses and individuals are facing.
You can keep up with the latest prices using RAC Foundation's Daily Fuel Price Table
, which provides a breakdown of how much of the cost is for the fuel itself and how much is tax. At the time of writing, the average price for petrol is 162.91p, with diesel being an additional 14p more.
Why are prices so high?
Petrol prices are soaring in line with rising fuel and oil prices worldwide, and with the invasion of Ukraine by Russia driving oil prices higher in March 2022.
The majority of Europe has historically relied on Russia’s large oil and gas reserves for its own supply, but Western leaders’ pledge to cut off their supplies of oil from Russia and turn to other sources sent oil prices skyrocketing due to increased demand.
Additionally, we are still seeing the effects of the pandemic on prices. Supply lines have been heavily affected by illness and lockdowns, meaning that supply has struggled to keep up with demand.
What can I do to save money?
- Accelerate gently and maintain consistent speeds when drive. Improving your fuel efficiency is key here. Driving erratically can increase fuel consumption by 60%. Ideally, you want to drive around 50 miles per hour (dependant on the speed limit), in the highest gear. Pull away smoothly, anticipate traffic light changes and hazards so you don’t have to sharply brake.
- Check your tyre pressure. Check tyre pressure before a long journey. It’s recommended that you check your tyre pressure with a tyre pressure gauge every two weeks. You can find your vehicle’s recommended tyre pressure in the cars vehicle handbook or in the inside door. Check out Auto Express’ top tyre pressure gauges here, for the best and most affordable gauges.
- Turn off your air conditioning. Kwik-Fit states that air-conditioning ‘could increase your fuel usage by as much as 10 per cent.’ The air conditioning uses a compressor that is connected to the belt of the engine, therefore requiring energy and therefore fuel. ‘This consumes between approximately 0.2 litres and 1 litre of petrol per 100 km.’
- Install a dashcam or battery tracker. Yes, we know. How typical of us to talk about our own products in this list. But studies have shown that 25% of people think they are more likely drive better with a dashcam installed. Not only that, but the cheaper insurance premiums and hard evidence in the case of an incident are nothing to shy away from.
- Lose unnecessary weight. More weight in the car means more energy needed to drive it around. Losing the extra bags will help with your fuel efficiency and reduce the amount of fuel you need. Don't lose your emergency kit though - that's important.