The average driver spends $62 a week on fuel, which adds up to just over $3,200 every year*.
Fuel is one of those things that is difficult to cut back on. You need it to get to work, take the kids to school, do the grocery shopping. It doesn’t go on special, there’s no fill up one car and get the second one free, there’s no true price battles between providers, and depending on your location, you’re at the mercy of whatever prices are around you. What can make it more frustrating is that one day the price is one number, and then the next it could rise by 10 or even 40 cents.
So how do you try and save money on fuel costs?
Compare fuel prices
This one is the one that everyone says first, but regularly comparing fuel prices in your area is one of the simplest ways. There are apps and websites available that provide real time information on prices.
When comparing fuel prices, however, don’t just keep the advertised price in mind. The average fuel tank is around 45 to 65 litres. For every cent difference in price, the total cost of filling up your tank (from empty to full) will vary by 45 to 65 cents. It’s also important to consider the distance you would need to drive for cheaper petrol, and if the fuel consumption required would be worth any potential savings.
Utilise loyalty programs
Some petrol stations offer loyalty programs that reward customers with discounts or other perks. Supermarkets also offer rewards programs and discount fuel vouchers. Keep an eye out for promotions and special offers that could further enhance your savings.
Optimise your driving
Your driving habits can effect how fuel efficient your car is. Things like maintaining a steady speed, using cruise control on highways, and avoiding rapid acceleration and breaking, can contribute to better fuel economy. Under-inflated tyres can also increase fuel consumption, so regularly check and maintain the proper tyre pressure. Removing any unnecessary items, especially heavy items, from your car can also help.
Consider carpooling and public transport
Where possible, taking public transport can be a cost-effective solution for community, especially in urban areas. But it’s not always possible to do this. Alternatively, if you have colleagues or friends who are also driving into work near you, consider carpooling to share the load of the fuel expenses.
Combine errands and plan routes
Did you know that starting a cold engine burns more fuel? Combining all of your errands into a single trip to avoid making several short journeys where possible, and planning the best route to get there can reduce your overall fuel consumption.
Saving money on petrol can require a bit more planning and research than other expenses. By giving these ideas a go, you might just keep a bit more money in your back pocket.
*Compare the Market, ‘Weekly petrol spend jumps nearly 200% in a year, new survey shows’.
