Petrol prices in the UK have reached a new high of over 150p per litre. This is the highest price since early January, and it comes at a time when many people are already struggling with the cost of living crisis.
The price of diesel has also risen sharply, now averaging 152.41p per litre. This is the second highest price ever recorded for diesel in the UK.
There are a number of factors driving the rise in fuel prices, including the rising cost of oil and the weaker pound. Oil prices have been on the rise since the start of the year, and they have been further boosted by the war in Ukraine. The weaker pound makes it more expensive for UK businesses to import oil, which is then passed on to consumers at the pump.
The CMA will launch a voluntary scheme later this month to encourage retailers to publish pump prices.
The aim is to make it simpler for drivers to compare fuel prices and to find the cheapest option.
What can I do to save on fuel?
There are a number of things you can do to reduce your fuel costs.
- Try to combine journeys
- Drive more slowly
- Take public transport
- Use car sharing when possible
Here are some recommendations for reducing gasoline costs:
- Combine trips: If possible, combine short trips with longer trips. This will save you money and fuel.
- Reduce speed: You will use more fuel if you drive faster. Stick to the posted speed limit and avoid sudden bursts of acceleration and deceleration.
- If at all possible, consider using public transportation or vehicle sharing instead of driving yourself. This could save you money on parking fees and petrol.
- Find the cheapest petrol stations in your area by comparing petrol prices on websites such as PetrolPrices
- Consider purchasing a vehicle that is more fuel-efficient: If you are buying a new car, it is recommended to select a vehicle that is fuel-efficient. This will result in long-term savings on fuel costs.