Petrol and diesel prices are rising fast – how to protect your budget
The cost of petrol and diesel is soaring, and for many households, it’s adding pressure to already stretched budgets. Some drivers are now paying over £100 to fill up a diesel car.
Why have fuel prices risen?
One of the biggest drivers of the price rise is due to tensions in the Middle East and disruption to supply routes. However, fuel demand has also increased, with some fuel stations reporting shortages. As a result, people are panic-buying, adding further pressure on prices.
How does rising fuel prices affect my finances?
Rising fuel costs, unfortunately, don’t just affect your car; they also impact:
- Food shopping prices due to delivery cost increases.
- Public transport fares may rise.
- Trades and services that may increase costs for customers as a result.
How can I save money on fuel?
Some ideas include:
- Improve your driving efficiency.
Try to avoid harsh braking and fast acceleration, stick to a steady speed and use a higher gear where possible to reduce revolutions.
- Shop around for the best price.
Fuel prices can vary by up to 20-30p per litre depending on location, with service stations usually being much higher. Free fuel comparison apps such as Petrol Prices or Fuel Finder will help you find the best price.
- Stop making unnecessary journeys.
By planning your day to combine multiple errands into one trip and walking for short distances, you’ll soon notice your fuel lasting longer. Where possible, you could even consider car sharing for school runs or your work commute. If you have public transport routes nearby, you may be able to switch some of your journeys to trains or buses.
- Check your tyre pressure.
Having underinflated tyres will use more fuel. Checking your tyres regularly will improve your fuel efficiency and extend the tyre life, saving money in the long run. If you’re unsure what your tyre pressure needs to be, it’s usually noted on the inside of the driver’s door or near your fuel cap.
- Lighten the load.
Having extra weight in your car uses more fuel. Take out unnecessary items when not in use.
- Keep on top of your car maintenance.
Having a regular car service as recommended by your manufacturer will help keep fuel consumption at its optimum level. In between services, you can check your oil level.
What can I do if fuel prices are pushing me into debt?
We’re here to help
If you are struggling with debts call us on 0800 072 1206. We’re open from 8am – 8pm Monday to Friday and 9am – 3pm on Saturdays.
Alternatively, you can visit our www.payplan.com/bfawu to speak to us via live chat or WhatsApp
