Saving money on petrol can save you quite a lot of money in the long term. Filling up your car can be one of the largest ongoing household expenses. By trimming this expense down, you can save hundreds of pounds over the course of the year. As a result, it could also help you avoid needing a payday loan or other short-term loan options to get through from one month to the next.
The price for crude oil, which is what is used to make diesel and petrol, has gone up and regularly experiences fluctuations in price.
Since 2020, fuel prices have greatly increased, leaving many vehicle owners concerned about how they can continue to afford fuel. However, there are a number of tried and tested ways in which to save money on petrol.
Why Are Petrol Prices in the UK Increasing?
At the beginning of the Covid-19 pandemic, the demand for energy decreased as a result of lockdowns. However, once these restrictions were lifted, the demand for crude oil began to increase.
Fast forward to 2022, following the invasion of Ukraine, fuel prices have also gone up as sanctions have been made on Russia, one of the world’s largest oil exporters. Consequently, millions across the UK have been subject to unaffordable petrol costs.
On top of this, inflation both in the UK and abroad has meant that petrol, which is traded in dollars on the global market, has gone up in price. This has added yet another layer of difficulty for consumers to contend with. While prices have seen improvements from the all-time high reached in 2022, petrol is still a highly expensive commodity. Let's review some ways to balance the inflation of petrol prices and protect your budget.
Five Ways to Save Money on Petrol
Saving money on petrol, in today’s economy is key for many. Whether you drive a car to get to and from work or rely on your vehicle as you have a family – saving money on petrol could save you thousands of pounds each year.
Below, we have compiled a few steps you can take to cut fuel costs when using your vehicle.
1. Fill Up at the Supermarket
The first step to saving money on petrol depends on where you fill up your car, alongside which petrol you use.
First, it is strongly recommended to fill up your car at supermarket petrol stations. Compared to other petrol stations, supermarkets tend to sell petrol at a slightly lower price. Filling up at a supermarket when going food shopping can also save you those extra miles and pennies .
In addition, when filling up your car, you should generally avoid using premium unleaded petrol. While some cars will require a higher octane, using premium unleaded petrol will not really benefit your wallet or your car’s efficiency. Premium unleaded petrol is also sold at around 10p to 15p more per litre, so it is best to avoid this. Nowadays, most unleaded vehicles work perfectly well when using E10 Unleaded, which is available in most UK petrol stations.
2. Use Coupons and Vouchers
Another great way to save money on petrol is by using cashback schemes and loyalty cards. For example, if you use a Nectar card with Sainsbury’s each time you fill up, you could be earning points toward future petrol money. There are many coupons available across the UK, so get searching online to start saving your money .
3. Drive Efficiently
Driving efficiently can ensure that you reduce your petrol consumption and save money in the long run. For instance, driving at the legal speed limit will ensure you save petrol – as driving at a higher speed will evidently increase your petrol consumption.
It is also advised that when driving a manual vehicle, you shift gears earlier, provided your engine allows you to do so, as this has also been proven to better your car’s fuel consumption.
Braking appropriately, such as avoiding sudden braking and accelerating, will also help better fuel consumption. Likewise, for electric or hybrid cars, maintaining the appropriate speed and braking will help maximise the lifespan of the engine.
You should also avoid using the heating where possible. Perhaps put on an extra few layers in the morning on the way to work. Conversely, driving at high speeds with the windows open will also create more drag resistance leading to more petrol consumption, so put the air con on if you can.
4. Maintain Your Car
Whilst driving efficiently will help your car’s fuel consumption, there are also other steps to take before you even turn the engine on. First, you should regularly check your tyre pressure, especially before long journeys. This is because under, or over-inflated tires can lead to poor petrol consumption. You can find the car’s recommended tyre pressure in the car’s handbook.
Additionally, you should empty your boot of unnecessary items, such as bicycle racks. This way, your car will have less weight, meaning it will have to work less and consume less fuel.
Another tip for maintaining your car is to ensure you service it regularly and check that it has the right amount of oil, engine coolant, and water. While car services are expensive, regular maintenance of your vehicle will ensure your car is working efficiently, ultimately helping you save money on household bills like petrol.
5. Go Green
Nowadays, many more people are opting for green cars, such as electric or petrol-hybrid cars. Choosing a green car will ultimately mean you use less petrol and save more money in the long run.
Electric cars can also use free charging points, as well as at-home charging plugs, which will come with tariffs that save you money. Not only will you be saving thousands in petrol money, but you will also be helping the planet.
Alternatively, diesel cars may be another money-saving option if you travel far. Diesel cars are known for their fuel efficiency when it comes to motorway driving. So, if this is something you regularly do, then it is also something to consider switching to.
