Leaving Eu will raise fuel prices – tips for cheaper motoring

fuel_prices_to_riseThe result of the recent EU referendum has led to retailers suggesting that higher fuel prices at forecourts across the UK could soon be seen.

 

Brian Madderson, the Chairman of the Petrol Retailers Association, pointed out that the value of the pound plunging against the dollar – as the result of the vote was being announced – will have an immediate impact. This is because wholesale fuel prices are quoted in dollars.

Mr Madderson predicted that motorists can expect to see the cost of fuel rising by up to 3p a litre.

The AA has forecasted a similar scenario. The well-known motoring organisation acknowledged: “Assuming that current market conditions persist over the next 10 to 14 days, the price of petrol at some fuel stations might be expected to rise by 2.25p a litre, or £1.25 a tank.”

Due to motorists across the UK potentially having to pay more to drive, should fuel costs rise, leading van lease company Northgate is offering tips on how people can change their driving habits in order to lower their expenditure.

The firm advises motorists to alter how they approach being behind the wheel, by:

  • Avoiding harsh braking, as this causes brake pads to wear down more quickly.
  • Taking corners more smoothly, as going into a turn quickly can put unnecessary pressure on a vehicle’s suspension system and its steering components.
  • Changing gears before the revs become too high, to avoid wearing out the parts of a vehicle’s engine prematurely.
  • Learning not to accelerate too harshly, as this puts needless pressure on a vehicle’s clutch.

On top of these tips to help you delay the wear and tear that your vehicle experiences, Northgate also points out that these changes in driving habits can see insurance costs tumbling.

The van lease specialists stated: “With many insurers offering cost reductions for gentle cornering and braking, sensible acceleration and even the location of the vehicle, the potential cost savings are significant.”

For more information about how you can save money by changing your driving habits, click here to read the full blog post by Northgate.