UK petrol prices – a license to burn money

OLYMPUS DIGITAL CAMERAFor months we’ve been told that UK petrol prices could not fall further or faster because the refineries buy their fuel months ahead.

Yeah, right.

UK petrol prices rise again

So it came as a surprise to see prices creeping up again ALREADY!
The excuse, no doubt, is that this reflects the increase of a few dollars per barrel for Brent crude. The price of crude has moved from a low of $45 to above $60. With what can only be described as lightning speed the price per litre at my local filling station increased from 107.9p to 109.9p. With similar increases reported by money fighters elsewhere.
I suppose these poor, poor petrol companies are doing is their bit to avoid deflation. They know that economists and retailers worry that us consumers will not spend if we think prices are coming down (instead wait until they do). So if petrol companies can do their bit to keep inflation on the up then they can save the retail sector… Don’t we just love you guys.

But money fighters don’t take rising prices lying down.

The best place to hit petrol companies is in the wallet. You may need to use you car but you can cut just how much petrol you consume while doing so.

Top 5 tips to cut car fuel costs

  1. Keep the car relatively clean – a dirty car and muddy wheels weigh more and increase drag.
  2. Clear the boot, remove the rubbish on the back seat and take off the roof rack if you don’t need it all the time – again, lighter cars use less fuel.
  3. And keep your tyres inflated to the correct pressure as this also makes your driving more efficient.
  4. Some credit cards offer cashbacks on petrol purchases – this isn’t a good reason on its own for changing cards but check if yours does.
  5. Get to know the best petrol stations to fill up at (locally the most competitive on price) but avoid filling the tank to the brim every time – fuel is heavy, so the more fuel that’s in the tank the more fuel you use.