Many of us will be facing higher household energy bills in 2022. With petrol and diesel prices also reaching record highs, now is the ideal time to evaluate whether you’re over-spending at the pumps.
1. Monitor prices
Shop around for the lowest price — either by using an app with alerts, or by watching prices as you drive your usual routes. While the price difference in litres may be pennies, you could save 8-9% on each tank. Would you choose to pay £3,560 more than necessary on fuel? A 2019 EDF Energy survey suggested that the average driver will spend £56,000 on fuel during their lifetime. By consistently finding petrol that is even 6% cheaper than your usual forecourt rate, the average driver could save £3,560 in a lifetime.
2. Check tyre pressure
Regularly check that your tyres are inflated to the right pressure. Lower tyre pressure increases drag on a car, meaning you need more fuel. Overinflating your tyres will also use more fuel. To find the right pressure, refer to your user manual or find information either on a label on the inside of your car door or petrol cap.
3. Don’t wait until the tank is empty
Fill up while you have enough fuel in the tank to be picky about where you fill up. With enough fuel for 50+ miles, there’s no panic and you can fill up when you pass the cheapest petrol station.
4. Cashback payment cards
Consider using a cashback credit card. Cashback cards pay you each time you use the card. However, you won’t save anything if you are charged interest. Therefore, it’s important that you set up a direct debit to repay the card in full each month.
Use a loyalty card only when the price makes sense to do so.
5. Lighten the load
6. Drive efficiently