5 Ways on how to save money on the cost of fuel

Fuel prices have again hit the headlines this spring. The conflict in Iran and the Middle East caused an immediate rise in fuel prices, just as happened previously with the Russian invasion of Ukraine. This is a solemn reminder of how volatile many prices are and how they can be impacted so easily by political and economic events. 

Whilst there is not much we can do as individuals when prices rise for such reasons, there are still various steps we can all take to help minimise the impact on us and our families. So in this article we look at five ways to save money on the cost of fuel.

Use your car less

An obvious way to save money on fuel is to use less of it by using your car less. But how practical is this? Many of us rely on our cars to navigate the complicated logistics of a typical day. So using the car less may feel like an impossible ask.

However, it is still worth considering whether you could reduce a few of your car journeys. For example:

• With a bit of advance planning, could you combine various errands into one journey?
• Is it possible to walk or cycle where you are going?
• Could you use public transport for your journey instead of taking the car?
• If you have a regular commute, might it be possible to car share with others?
• Is your journey essential? For example, if it’s for a work meeting could that meeting perhaps be done online instead?

Shop around for best deals on fuel

When you do need to buy fuel, check the best prices in advance. Even in the same local area, prices can vary greatly and shopping around can be a quick and easy way to save money.

One way to check the prices in your area is to use the website petrolprices.com that can help you to find the cheapest petrol in the postcode, town or city you enter.

Also make the most of supermarket petrol stations as you may benefit either from special deals or by building up loyalty points with them. And if you have a Costco nearby and are qualified for membership, this could be worth doing as member fuel prices are often very low and would soon cover the cost of membership.

Finally, think carefully about how much fuel to put into your tank. Bear in mind that fuel is heavy, so if you fill your tank completely you are giving the car more weight to carry around which in turn uses more fuel. Experts recommend that filling the car up to around half or three-quarters full can make the car run more efficiently. Although if you find a really great deal on fuel, and prices are rising, you will probably save money by filling up completely even though you are then running with the extra weight.

Minimise the fuel your car uses

There are a few simple steps you can take before using your car to reduce the amount of fuel it uses. Try some or all of these:

• Tyres

Make sure your tyres are inflated to the correct pressure. If they are inflated either too high or too low, the car will need to use more fuel to drive correctly.

• Fluids

Also make sure that you regularly top up essential car fluids, such as engine oil and coolant. These are easy to overlook, but are necessary to ensure that the engine runs as efficiently as possible and keeps fuel consumption to its minimum.

• Roof rack

If you have a roof rack on your car that is not currently being used, take it off. Otherwise it can create wind resistance and cause your car to use more fuel.

• Clutter

The lighter your car is, the less fuel it needs to drive efficiently. And every little helps. So take time to declutter your car and get rid of anything from the boot or body of the car that is not absolutely essential.

Drive in a way that conserves fuel

As well as preparing your car before you drive it, there are also things you can do whilst driving that can help to reduce the amount of fuel your car uses. Five tips to consider are:

• Watch your speed

If you consistently drive too fast, your car can use as much as 10-25% more fuel than if you keep to a lower speed. Making a conscious decision to drive a little more slowly can be a significant way to save money on fuel.

• Brake and accelerate smoothly

The harder you press on the accelerator, or slam on the brakes, the more fuel you will use. It’s better to aim for smooth consistent driving – also known as ‘defensive driving’. Plan ahead as you drive, to enable you to accelerate and brake in a smoother way and use less fuel.

• Use higher gears earlier

If you drive a manual car, try an experiment with your gears. If you change to a higher gear a little earlier than normal – without labouring the engine – this can have an immediate impact on fuel consumption. 

• Keep moving where possible

Wherever possible, try to keep your car moving rather than stopping and starting. The biggest surge in fuel usage is to get the car moving from stationery. So whenever you can, slow down and keep the car slowly rolling rather than stopping and restarting. 

• Economise on heating and air conditioning

Try to avoid overusing heating or air conditioning, as both use engine power and can drastically increase fuel consumption, especially at low speeds. 

Consider going electric

Another more long term option to consider to save money on fuel, and protect yourself on any increases in fuel prices is to change your car from a fuel-powered to electric vehicle. The sale of new fully petrol or diesel cars and also mild hybrid cars will be banned from 2030, and full hybrids and plug-in hybrids from 2035. So at some stage you do need to make the transition to an electric car.

In our recent article Do we only have till 2030 to get an electric car? we explored the cost of electric cars, and various discounts and grants that are available to help with this cost. So if you are likely to be changing your car in the next year or two, it is worth finding out more about the electric car option.

We hope that the information in this article has given you some useful tips about how to save money on fuel.

For more money saving tips on day to day living, check back here soon with us at Loans 2 Go.

This blog/article provides general information only and does not constitute financial advice.