Save Your Wallet From Ever-Rising Fuel Prices With These 21 Tips

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Save Your Wallet From Ever-Rising Fuel Prices With These 21 Tips

Drivers across the country are grumbling, as the cost of petrol in Australia rises on a daily basis. The pain of simply filling up and watching the metre go up and up is unbearable.

So what’s causing these high prices? The short answer is that it’s a combination of things.

Let’s take a look at some of the main reasons behind the recent surge in fuel prices:

  • International tensions are driving up oil prices

One of the main factors behind high petrol prices is the current tension in the Middle East. This has led to fears about potential disruptions to global oil supplies, and as a result, the price of crude oil has risen sharply. This increase in the cost of crude oil then flows through to higher petrol prices at the pump.

  • A weaker Australian dollar is also driving up prices

Another big factor behind higher petrol prices is the current exchange rate. A weaker Australian dollar means that imported oil is more expensive, and this cost is then passed on to motorists.

  • Refinery issues are also causing prices to rise

There have been a number of refinery issues in Australia recently, which has led to reduced production of petrol. This has put upward pressure on prices, as there is less petrol available on the market.

  • Taxes and other government charges also add to the cost

Petrol is subject to a number of taxes and government charges, which all add to the final price you pay at the pump. In addition to federal excise and GST, state governments also charge their own taxes on petrol. These taxes and charges account for around 38% of the final price of petrol.

  • Retailers are also adding to the cost

While taxes and other government charges make up a significant portion of the final price of petrol, retailers also add their own margin to the price. This margin can vary depending on the retailer but is typically around 4-5 cents per litre.

Photo by Jakob Rosen on Unsplash

While you may not be able to single-handedly solve these factors, there are some ways you can soften the blow on your wallet.

Here are 21 tips for your peace of mind:

  1. “Check your vehicle’s tyre pressure regularly and ensure they are inflated to the correct level – underinflated tyres can increase fuel consumption by up to 5%”, recommends Gold Coast building and pest inspection specialists who constantly travel to their clients.
  2. Drive smoothly and steadily where possible – harsh acceleration and braking can add up to 30% to your fuel bill.
  3. Remove any unnecessary weight from your car – “an extra 100kg of weight can add up to 2% to your fuel consumption”, points out Sydney automotive car detailing experts.
  4. Use cruise control on motorways and dual carriageways where you can maintain a steady speed – this can reduce fuel consumption by up to 10%.
  5. Plan your journeys in advance where possible and try to avoid congested routes – idling in traffic uses a lot of fuel!

Photo by Dominika Roseclay
  1. Keep your windows closed when driving at higher speeds – open windows create drag and increase fuel consumption.
  2. Use air conditioning sparingly – it can add up to 10% to your fuel bill.
  3. Make sure your engine is running efficiently by getting it serviced regularly and using the correct grade of oil – an inefficient engine can use up to 25% more fuel.
  4. Invest in a navigation system – this can help you avoid getting lost and wasting fuel driving around in circles!
  5. Switch off your engine if you’re going to be stationary for more than a minute or two – idling uses a lot of fuel for no good reason.
  6. Carpool or use public transport where possible – “this can save you a lot of money on fuel costs”, suggests accounting experts from Cairns.
  7. Drive at the speed limit – speeding uses up a lot of fuel!

Photo by Makarios Tang on Unsplash
  1. Avoid using your vehicle for short journeys where possible – walking or cycling can be better for your health and your wallet.
  2. If you’re not using electrical items in your car, switch them off – they still use power even when turned off.
  3. Use eco-friendly driving techniques where possible – this can help to reduce your fuel consumption by up to 15%.
  4. Buy fuel-efficient tyres – these can help to reduce your fuel consumption by up to 5%.
  5. Buy a more fuel-efficient car – this is a big investment but it could save you a lot of money in the long run.
  6. Use fuel-saving additives – these can help to improve your vehicle’s fuel efficiency by up to 5%.
  7. Convert your car to run on LPG or CNG – this can be a costly investment but it could save you money on fuel in the long run.
  8. Use a fuel-tracking app – these can help you to monitor your fuel consumption and find ways to save money.
  9. Get a quote from a car insurance company that offers discounts for low mileage – this could save you money if you don’t use your car often. 
Photo by Andre Taissin on Unsplash
Featured photo by Maxim Hopman on Unsplash
Sarah Miller

Sarah writes about her personal journey, learning, life optimisation and her passions. For more thoughts and ideas, you can connect with Sarah on Twitter

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