Consumers across the world are feeling the pinch of rising prices on goods and services. Inflation in many countries is at a all time high and motorist cannot escape this reality at the pumps. Everyone wants a simple answer to the questions “why are fuel prices so high, when will it drop and how on earth can I save money on fuel?”
Why are fuel prices so high?
Fuel prices are high and are continuously rising mainly due to the Russia Ukraine war crisis and high inflation affecting most countries.
When will fuel prices drop?
If the war does not subside then the prices of petroleum products such as oil, fuel, gas, diesel, and coal may not go down in the foreseeable future.
How to save money on fuel?
These are five (5) practical ways to save money on fuel:
1. ENSURE TYRES ARE FULLY INFLATED
Flat or partially inflated tyres create excess drag, and this causes the vehicle to use excess fuel.
2. BUY FUEL AT THE BOTTOM OF THE CYCLE
Fuel prices rise and fall throughout the week. Check which days are lowest before filling up your tank. In your local area, compare and search for “fuel prices near me”. To be more specific, search for example “fuel prices in Perth” to get a listing of stations in proximity.
3. KEEP YOUR CAR TUNED
A fully serviced and tuned car runs more efficiently therefore reducing fuel usage.
4. BUY PREMIUM FUEL IF POSSIBLE
High octane fuel helps your motor to run smoother resulting in more mileage out of a tank of fuel.
5. SWITCH TO AN ELECTRIC CAR
Electric cars are approximately 70% cheaper to maintain compared to a car with an internal combustion engine.
The rising fuel prices is a symptom of the Russia Ukraine war crisis and overall high inflation. There is no prediction on when the conflict will end between the countries and as such no definite timeline when fuel prices will fall. Consumers can save money on fuel by ensuring tyres are fully inflated, buying fuel at competitive prices, keeping vehicles tuned, buying premium fuel, and switching to an electric vehicle.