You’ll have all noticed the relentless increase in fuel prices over the last couple of months. In fact, this week marks the 10th consecutive week that fuel prices in the UK have risen.
Don’t expect this trend to reverse soon either, with Hurricane Florence set to batter the East of Coast of America concerns over supply have already sent crude prices up 3%. Mated with the governments hint that fuel duty could be on the rise could mean dark times ahead for the UKs cash strapped motorists.
According to fuelprices.co.uk the average price of diesel is 134.2 p/l with petrol trailing closely at 131.3 p/l. We’re not quite at the levels seen in 2012 where 140p/l was common place but we’re very quickly heading that way as you’ll see from the fuel price graph below (Source RAC Foundation).
UK fuel duty has been frozen since 2011, saving motorists around £850 but losing the government purse the tune of £46bn in revenue. That could all change with the Chancellor Philip Hammond saying yesterday in the fuel duty policy “must be looked at again”.
With a no deal Brexit on the horizon and instability in the crude market we would be shocked if a duty rise was on the cards but if history has taught us anything, it’s to expect the unexpected.
What can I do?
Well, you’re in the right place. With Winter rolling back in, the harsh reality is that you use more fuel in the colder weather. Check out our fuel saving hyperming tips on how you reverse that rise in your fuel outlay. Even small changes to your driving style and improvements in your vehicle maintenance can save you hundreds of pounds a year without being labelled a nerd or holding up traffic on your local motorway.