Fuel prices have hit fresh highs in Australia. That means more pain at the pump, as you drive to work or wherever. Read our 6 ways to save money on crazy fuel prices…
The Organisation of the Petroleum Exporting Countries (OPEC) has had a huge effect on the price of oil. They control oil production worldwide, and are able to keep prices high or low. The coronavirus pandemic had hardly been expected by anybody in the early stages of its spread and it is quite surprising that so few people even knew about it until it actually started. The result prompted a reduction in supply.
Demand is surging as economic growth opens up, but oil producers haven’t kept up, so prices have risen.
It really pains me to know that, a little over a year ago, it was possible to buy petrol for less than $1 a litre. Oh! So it’s really more than double.
Australia’s economy is growing faster than the rest of the world. That’s good news for us and bad news for other countries. On the other hand, prices have consistently fallen over the last year, especially during the holiday shopping season.
You can’t always control the prices that the oil companies charge for petrol but there are things you can do to make the pain of filling up the tank less painful.
Petrol prices are rising around the world due to increased demand for oil. To help keep gas prices at an affordable level, we’ve developed these six ways to save money on fuel.
1. Find out whether your car needs to be serviced, or if it needs a minor or major repair.
Old-fashioned oil is bad for your car; you need premium gas to get it running smoothly and without repairs. If you haven’t been on the road in awhile, or you’re just ready for a break, consider topping up on supplies.
Make sure your car is serviced so it’s running at its best. This includes keeping up to date with oil changes, replacing brake pads and rotors, and inspecting the belts.
2. Pump up your tyres
If the tyre pressure is too low, then the tyres will not be inflated to their full size, which means that they will need more force to roll the vehicle. When buying tyres you need to make sure they’re up to the minimum recommended for your vehicle. Check the placard, which is usually located inside the door jambs or inside the fuel filler flap.
Wheel alignment is a must if you have a car, or plan to buy one. If the wheel isn’t straight, it’s off-balance, and that’s bad for your ride. Having your car wheels all pointing in different directions is not good for car wear but it’s even worse for car efficiency.
3. Switch off the AC
A good place to put your air conditioner is to turn it off when it isn’t needed. Doing this helps keep your car’s engine from running down. If you have a window that you don’t need to open you might want to leave it cracked open a bit when you don’t need the air conditioning. Save as much gas as possible by driving slower and reducing engine use. The amount you save on fuel will vary based on the car you drive, how often you stop to refuel, the number of passengers, and the type of fuel used.
Prudent? You don’t want to be prudent. Get as much airflow in your car as you can without letting in cold air and getting your AC up high to avoid making it a pain in the ass to turn it on and off.
4. Slow down
When the car passes a truck, it encounters more drag and loses some speed. When it’s on a freeway, it can encounter a lot of drag, which causes it to lose speed. When you double your speed from 50 to 100 km/h, you’ll create four times the amount of drag.
On a 110km/h freeway even slowing down to 100km/h will make a difference to fuel use.
5. Look ahead
Anticipating traffic is the best way you’ll save fuel. You might also want to look ahead and plan for things that are likely to be on the road. Unless you’re driving a hybrid or electric car, you’ll be generating heat through friction every time you touch the brakes. Regenerative brakes will automatically take the brakes back to a normal operating temperature, but you’ll still generate heat.
Once you’ve reached cruising speed the extra fuel will have been used up and the engines will stop firing. There will then be no more acceleration and you’ll have to burn more fuel to get going again. By not pressing the accelerator and letting the car coast instead of using the brakes you can conserve fuel.
6. Check the prices
Fuel prices can change during the day and from service station to service station. Check in for an upcoming flight or hotel stay through mobile apps such as Fuel Map Australia or Motormouth to get special offers and save big bucks.
There’s more than just rewards for filling up your car at an independent service station. Most offer cheaper petrol, better service, and you don’t have to worry about finding a parking spot. Fuel prices are fickle, and while they may seem to be going up for the moment, they are likely to come down in the weeks and months ahead. The ACCC monitors the number of scams.