Drivers across the UK have been urged to never “assume” when it comes to petrol prices.
Consumer champions at Which? urge motorists not to “assume supermarkets are always cheapest”. And with petrol prices fluctuating over the past year, it’s worth reading their advice. Earlier this year it wrote: “Even though fuel prices have fallen significantly in recent times, larger supermarket chains still generally offer the lowest forecourt prices. In some areas, though, independent petrol stations can undercut larger firms.
“It’s worth checking which petrol stations are the cheapest locally before you fill up. Websites such as PetrolPrices.com can help, and some sat nav apps, such as Waze, display live prices for stations nearby and on your route.”
View 3 ImagesCheck before you leave your house using comparison sites(Image: Tim Robberts via Getty Images)
Before you leave the station, you may see an air pump, handily making your trip out a one-stop shop. This is because the experts also urge motorists to check their tyres, as it could help save fuel.
It recommends: “Make sure your tyres are at the correct pressure as stated in the car’s handbook (or often on a sticker on the driver’s door pillar). Underinflated tyres develop more rolling resistance than correctly inflated tyres, so you’ll have to work your engine slightly harder when there isn’t enough air in them.
“An incorrectly inflated tyre will also affect your car’s braking performance and is likely to wear prematurely or unevenly, meaning you’ll need to change them more often.”
View 3 ImagesMake sure your tyres meet the legal requirements(Image: Getty)
According to motoring experts at RAC, the price drivers pay for petrol and diesel is primarily determined by wholesale fuel prices – the cost retailers pay before fuel reaches the pump – which are affected by:
- the global price of crude oil, which in turn is governed by supply and demand for crude oil and oil refinery production and capacity
- the pound to dollar exchange rate, as refined fuel is sold in US dollars per metric tonne
- distribution costs
- retailer margin
- fuel duty charged by the Government
- VAT charged at the end of every forecourt fuel transaction
RAC add “While some of these stay largely static – such as VAT – others such as the oil price and dollar to sterling exchange rate can be very volatile. This explains why prices rise and fall. A combination of high oil prices and a weak pound leads to the highest pump prices.”