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Fuel prices set to rise: how to beat the hikes

petrol_filling_car
Guy Anker
Guy Anker
Deputy Editor & Head of Operations
25 August 2009

Motoring costs are set to rise next week as the Government's 2p per litre fuel duty increase comes into force next Tuesday.

And fuel analysts say petrol and diesel costs could rocket even further because the price of oil is also rising.

Yet you can limit spending by driving more efficiently and finding the cheapest filling stations.

In some cases, you can slash your fuel bill by 60%, saving families hundreds of pounds a year (see the Cheap Petrol & Diesel guide).

And by filling up this week, you'll save cash, assuming fuel costs continue to rise.

Fuel duty rise

The Government announced in April's Budget that 2p would be added to the cost of a litre of petrol or diesel on 1 September.

Yet prices could climb even further. The cost of oil, which often dictates the price at the pumps, has risen from around $60 (£37) a barrel in July to just over $74 a barrel at midday today.

Fuel costs have also been steadily rising as a result. Figures from website Petrolprices.com reveal the average cost of a litre of unleaded petrol stood at 102.6p (103.3p for diesel) on 1 August but now stands at 104.9p (105.5p for diesel).

Petrolprices.com spokeswoman Louise Doherty says: "The increase in oil prices is likely to mean petrol prices will rise."

Fuel duty was also increased by around 2p per litre on 1 April this year.

Slash costs

Joint MoneySavingExpert.com/RAC research has found you could slash fuel bills by up to 60% by following some simple steps.

That equates to a £1,500 a year saving for a high-spending household that spends £2,500 a year on petrol or diesel.

Here are our tips:

  • accelerate and brake gently.

  • turn off the air conditioning.

  • keep your car aerodynamic by ensuring it is clean and free of its roofrack, unless in use.

  • keep tyres properly inflated.

  • de-clutter your car to make it lighter.

  • use Petrolprices.com to find the cheapest local filling station.

  • look for cheap petrol promotions, particularly in supermarkets. The Cheap Petrol & Diesel guide is updated when promotions are announced.

Further reading/Key links

Drive down fuel costs: Cheap Petrol & DieselFind cheap filling stations: PetrolPrices.com

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