{"id":232094,"date":"2022-03-28T12:14:02","date_gmt":"2022-03-28T11:14:02","guid":{"rendered":"https:\/\/www.roadxs.com\/?p=232094"},"modified":"2025-01-13T20:49:47","modified_gmt":"2025-01-13T20:49:47","slug":"fuel-saving-tips","status":"publish","type":"post","link":"https:\/\/www.roadxs.com\/insights\/fuel-saving-tips\/","title":{"rendered":"Fuel Saving Tips to Reduce Your Transport Costs"},"content":{"rendered":"
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With petrol prices set to rise above \u00a32.50 a litre and Diesel above \u00a33 a litre in the near future (Guardian<\/a>), these fuel saving tips<\/strong> will help you in getting more mileage out of your vehicle so that you can fill up less often at the pumps.\u00a0 Just recently the average price per litre of petrol was 163.46p and Diesel was at an all-time high of 173.44p.\u00a0 Worryingly, these prices are predicted to get much worse in the near future, with some stating pricing may exceed \u00a32.00 for Diesel.\u00a0 To put this in perspective, this means as of March 2022 (first published), it now costs on average \u00a389.90 to fill the tank of an average family car.\u00a0 An average Diesel family car costs \u00a395.39 to fill.<\/p>\n

All of this will have a dramatic impact on running costs for community transport<\/a> providers, patient transport<\/a> operators and public transport providers.\u00a0 It will also impact our disposable incomes too.\u00a0 The tips in this article will hopefully let you save<\/a> more at the pumps and instil good habits whilst driving, so you can get more miles per gallon.<\/p>\n

You don’t have to choose between saving money and reducing your carbon footprint. There are many ways to do both at the same time. Here is a quick summary of some of the tips<\/a> covered in this article that can help you save money and reduce your operating costs:<\/p>\n<\/div>\n

1. Make sure your tires are properly inflated.<\/strong> Underinflated tires can increase fuel consumption by up to 3%.
\n2. Keep your car well maintained.<\/strong> A dirty air filter can increase fuel consumption by up to 10%.
\n3. Drive calmly and smoothly.<\/strong> Aggressive driving can increase fuel consumption by up to 33%.
\n4. Combine trips and errands whenever possible.<\/strong> Driving to several different places wastes fuel and increases emissions.<\/p>\n

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Why Are Fuel Prices Rising?<\/strong><\/h2>\n

The recent fuel price surge is being driven by fears of an economic shock resulting from the Russian invasion of Ukraine.\u00a0 Uncertainty is also being driven by the heavy sanctions being placed on Russia, which has the largest reserves and is the largest exporter of natural gas in the world.\u00a0 The price of crude oil has risen which is used to create petrol and this is being passed on to consumers at the pumps.<\/p>\n

Unlike at the beginning of the Covid-19 pandemic and during lockdowns where many of us weren’t travelling the demand<\/a> for crude oil collapsed, seeing prices fall.\u00a0 The demand for petrol and diesel diminished.\u00a0 Now that the UK is back to almost a normal life crude oil suppliers are struggling to keep up and world events and this demand have seen prices surge.<\/p>\n

Something that is also not being mentioned much is that at the moment, the pound is much weaker against the dollar.\u00a0 Given that crude oil is paid for in US dollars this is also making fuel much more expensive.<\/p>\n

The chart below shows the real-term impact of this increase:<\/p>\n

\"petrol

Retailers purchase crude oil on the global market, where cost fluctuates with fuel supply and demand. Overseas markets may also affect prices too.<\/p>\n

The base fuel rate is driven by the price of crude (Brent) oil coupled with the dollar ($) exchange rate.\u00a0 Recently (March 2022 when first published), the price of oil jumped to $139 a barrel, the highest it has been in over 14 years.<\/p>\n

These daily price fluctuations have created uncertainty and a lack of confidence in the markets as the war in Ukraine rages on.\u00a0 There is some hope, however, that we may begin to see a drop in oil prices as the wholesale price of oil comes down as other nations such as Saudi Arabia up their oil production and there is hope that potential oil sanctions might be lifted on Iran if agreements can be made.\u00a0 The price rises we are seeing at the moment are the knock-on effect of the high increases experienced at the end of February 2022 and the beginning of March 2022.<\/p>\n

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Summary
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