information

We use cookies to give you the best possible experience online. By continuing to use our website, you agree to receiving our cookies on your web browser. Visit our cookie policy page to find out more and how to change your cookie settings.

skip to main content

How to save money on your fuel costs

Three easy ways to make a big difference to spending on fuel

Someone filling up their car in a gas station

With the average cost of a litre of petrol and diesel well over £1.10 (July 2017), it's no wonder that a large proportion of our weekly outgoings is taken up with transport costs and in particular, spending on motor fuel.

How much are you spending on fuel?

The Office for National Statistics estimates we spend nearly £20 a week on petrol, diesel and other motor oils. So for a two-car family this can really add up over the year, giving an annual fuel bill of over £2,000.

So how can you save money on your fuels costs?

Here we take a look at the top three ways to save on fuel:

  • Shop around
  • Drive efficiently
  • Ditch fossil fuels

Should you drive miles to save money?

We've all done it. Filled up your car at the local garage only to find it's a penny cheaper per litre just up the road.

It's frustrating to feel you've paid too much, but does driving around to find the best fuel price actually make a difference in the long run? Well, it can do.

The cheapest price for unleaded petrol quoted on petrolprices.com at the end of June 2017 was a whopping 26 pence less than the most expensive price.

But how far would you go to get the cheaper fuel? If you put 50 litres of unleaded in your car then found it 5 pence cheaper per litre elsewhere, you could save yourself £2.50. But you don't have to go far, especially in city traffic, to get through £2.50 worth of fuel.

It's false economy to drive miles to find cheaper fuel prices. However, it's sensible to keep an eye on the cost of fuel locally or on your regular commuting routes.

If you're passing a cheaper garage just nip in and fill up when you can. But make sure you choose the right fuel.

Over 150,000 people put the wrong fuel in their car each year. And it can be very costly. With LV= your car insurance covers you if you put the wrong fuel in your car. And if you have breakdown cover as well we can help you get to a garage for repairs.

Top tips for driving more fuel efficiently

One of the best ways to save money on your fuel costs is to drive with fuel efficiency in mind.

  1. Keep your tyres correctly inflated. Underinflated tyres can increase fuel consumption, so costing you more.
  2. Reduce the weight of the car. Do you need to keep your roof box on all year round?
  3. Drive smoothly. Avoid rapid acceleration and deceleration.
  4. Switch off your air con at low speeds – it uses more fuel.
  5. Stop speeding. Apart from the fact that it's illegal, driving at 80mph can use up to 25% more fuel than driving at 70mph.

Switch off your air con at low speeds – it uses more fuel.

Should you go Eco?

Registrations of alternative fuel vehicles were up by nearly a third in 2016, but they still only account for 3.6% of new vehicles registered in the UK.

The most popular type of alternative fuel car is the hybrid, with gas and electric powered vehicles trailing behind.

Hybrid cars use both an internal combustion engine and an electric motor to generate power, whereas gas and electric cars use only one type of fuel.

There's little doubt that it's cheaper to run a hybrid or electric car compared to a petrol or diesel-fuelled car. And alternative fuels cars emit fewer pollutants in to the atmosphere.

Hybrids also have the advantage that you can fill up like normal at a petrol station, unlike electric vehicles that need to be charged at home or special charge points.

You should also check that your insurer is happy to insure an electric vehicle. For example, the cable you use to charge your vehicle could cause a hazard so you'll need to make sure you're covered by your car or home insurer. And if you lease a battery, this may complicate a claim.

Speak to LV= for advice about insuring an electric vehicle if you're unsure.

Buying LV= car insurance is quick and easy