There are over 32 million passenger vehicles in the UK and nearly 99% of them are powered by petrol or diesel. In 2022, the cost of fuel reached record levels in the UK when sanctions on Russian oil pushed wholesale prices, already rising after the end of lockdown, even higher.
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Prices for petrol and diesel are constantly fluctuating based on wholesale costs, plus the various duties and tax on top. Different providers of fuel also set their own margins, meaning it’s always worth checking options nearby for the best price at the pump.
<aside> ℹ️ The RAC has a useful Daily Fuel Prices checker, showing the average petrol and diesel pump prices for the UK and a breakdown of how each price is derived.
The government cut fuel duty on petrol and diesel by 5p per litre from 23rd March 2022, saying the reduction will last for a year to help drivers cope with rising fuel costs. However, record-breaking prices mean that many are taking further steps to reduce fuel costs.
Obviously, a great way to reduce how much you spend on fuel is to cut down on the miles you drive. Polling by the RAC has found 30% of drivers are using their cars less often since prices have drastically increased.
There are some simple and effective ways to reduce your vehicle’s fuel consumption, like keeping your tyres inflated to the recommended level and minimising your car’s overall weight.
There are proven techniques for more efficient ways of driving, reducing how much you accelerate and brake, as well as changing up a gear sooner than you normally would.
<aside> 💡 More tips to reduce your fuel costs Read the guides from Money Saving Expert on making your vehicle more fuel efficient and driving more efficiently.
Prices for petrol and diesel in a given area have been found to vary by as much as 10%. Use petrolprices.com to find the best option near you.