Drivers have been hit with constant petrol price increases in recent years and record high petrol and diesel prices were reached in November. The average price of unleaded hit 147.72p a litre, while diesel was up at 151.10p a litre.
At the same time last year, petrol was around 33p a litre cheaper than the record November 2021 price, which is a huge increase in just 12 months. For people who use their cars on a regular basis, this price increase has a significant impact on their finances.
While there are signs that prices will reduce a little, the costs of petrol and diesel are still very high. Also, the increases in petrol are not reflected in the minimum wage increases, leaving many families out of pocket this year.
Many households that are impacted by the price increases are looking at ways to reduce the amount of fuel they use. Some ways to do this include:
When you are taking the same journey as someone you know, such as going to work, car sharing can be a cost-saving option. Sharing with just one other person could halve the petrol expenditure for both of you and you could save even more if there are three people car sharing. Some companies have car-sharing incentives or ways to check if there are people who want to car share.
Catching the train, bus or another form of public transport can be considerably cheaper than driving to places. For work journeys, buying a ticket for a month or a year can work out much cheaper. You might also be able to find some discounts that you qualify for, such as railcards and discounts for travelling in a group.
Reduce your vehicle’s petrol consumption
If you have limited options other than to drive, you can still reduce your petrol costs by making some small changes. For example, if your car has an eco-mode, you should use it as much as possible. You should also make sure your tyres are at the right pressure and that you are not carrying any unnecessary excess weight such as heavy items in the boot.
Walk, run or cycle
Another option that will help you to save money on petrol is to tie it in with a commitment to do more exercise. Instead of driving to fairly local places, you could consider walking, jogging or cycling there. It might not seem to make a big difference to start with but over time you could save a considerable amount of money and get more active. If you do not have a bike, buying a second hand one could quickly enable you to make your money back in the petrol you are saving.
When you are putting petrol in your car make sure you are using the cheapest petrol station nearby. You can use a petrol price comparison site to find the cheapest petrol prices near you.
Hopefully, we will see some decreases in petrol prices soon, but these tips could help you to save some money in the future.