Drivers are being advised to stay calm despite the surge in oil prices exceeding $100 per barrel. Brent crude reached close to $120 on Monday, marking levels unseen since the summer of 2022.
As oil is a key element in producing petrol and diesel, the spike in oil prices can directly impact fuel costs for consumers. Over the weekend, the average diesel price surpassed 150p per liter, hitting 150.97p on Sunday, while unleaded petrol averaged 137.51p per liter.
Edmund King, President of the AA, reassured that significant fuel price hikes won’t occur suddenly. Due to previous fuel purchases at lower prices, the effects of rising oil prices may take time to reflect at the pump.
In the meantime, drivers are encouraged to compare fuel prices in their area to locate the best deals. Taking into account these fluctuations, Mr. King recommends maintaining regular refueling habits, reducing non-essential trips, and adjusting driving behavior to save fuel, especially as warmer weather approaches.
Online tools like Petrol Prices offer free services to track the latest petrol and diesel prices by entering your postcode. The RAC provides national average fuel prices, including breakdowns for supermarkets and motorway stations.
The government has introduced a new “fuel finder” initiative, requiring all UK filling stations to report price changes for petrol and diesel within 30 minutes. This open-source data enables apps, websites, and car navigation systems to display real-time and comparable fuel prices. The Competition and Markets Authority will take action against retailers failing to comply with the scheme.
To cut costs on fuel, it’s advisable to avoid pricey motorway service stations and plan refueling stops strategically. Keeping your vehicle well-maintained through regular servicing can also enhance fuel efficiency.
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