11/2/2023 0 Comments Petrol station nearest to meMaintain your vehicleĪ properly maintained car will be more efficient than one that’s been neglected. Reducing your speed also helps, so you could consider driving at 60mph on the motorway instead of 70mph. Accelerating is what uses the most fuel, so coasting towards a traffic light so it goes green before you have to stop will use less fuel than pulling away from stationary (though, obviously, don’t go too slowly with other cars around you). Generally speaking, the smoother you drive, the more economical you’ll be. You can also save money by thinking about the way you drive. You can also plan ahead on longer trips to see which locations along your route might give you the best savings. Our useful fuel price checker will show you where to find the cheapest fuel in your area. The easiest way to save money on fuel is to compare prices before you head out. How to save money on fuel Compares prices When petrol prices come down, it puts less strain on the average person, helping to curb inflation. There’s also a strong link between petrol prices and inflation. Sometimes there are publicity campaigns from organisations that call on retailers to drop costs if they don’t fairly reflect the cost of crude oil at the time. There’s also the concern that fuel stations are much slower to reduce their prices than they are to raise them, often waiting for a rival retailer to reduce their prices. Will fuel prices go down?įuel prices will always come down from unnatural peaks, but there’s only so low they can go because of the inherent costs outlined above. The exchange rate between the pound and dollar also contributes, as oil is bought in US dollars. There’s also VAT, which is 20% of the final amount, as well as other considerations such as the cost of distribution and the profit margin for the retailer. There’s also fuel duty, which is a form of tax that is paid to the Government, which is currently set at 52.95p per litre. There’s also the fact that fuel retailers don’t simply price fuel based on how much they bought it for. Russia is one of the world’s largest producers of oil, and sanctions imposed by the West following its invasion of Ukraine have affected supply. Oil prices are largely dictated by supply and demand, as well as the cost of extracting and producing it. The inverse is true, so if the cost of oil drops, so should the price of fuel. Numerous factors affect the price of fuel, with the main one being the cost of crude oil. If you top up weekly, that’s equivalent to the cost of a full tank saved each year. That means shopping around can save you money at the pumps – if you’ve ever filled up, then passed a petrol station where prices are lower five minutes later, you’ll know how frustrating it can be.Įven small changes in price can add up – saving a couple of pennies per litre will reduce the cost of the typical family car top up by more than £1. Why should I compare fuel prices near me?įuel prices are going up and down all the time, but there’s no set rate that every fuel station must adhere to.
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