How to save money at the pumps as petrol costs tipped to rise

When tensions rise in the Middle East, it doesn’t take long for the impact to be felt elsewhere, including the UK.

The region produces a huge share of the world’s oil, so the unfolding conflict between the US and Iran is already pushing up the price of this precious commodity.

And that directly affects you, particularly if you’re a motorist.

Iran conflict ‘will probably affect living costs’

The government has already conceded that the situation in the Middle East will “probably” have some impact on the cost of living.

However, chief secretary to the prime minister Darren Jones said how much it will affect prices depends on how long the conflict lasts.

Speaking to Sky News, he said this is why the UK government has consented to allow the US to use UK airbases.

“The sooner it’s over, the lesser the impact will be on our economy and the global economy,” Mr Jones said.

Paul Barker, editor at Auto Express, also believes the outlook for fuel prices depends on the length of the conflict.

“The global markets hate uncertainty,” he said.

“So the current situation across the region is likely to have a negative impact on oil prices in the short-term. 

“The longer-term effects will depend on whether and how things escalate, but it's not unreasonable to expect fuel prices to rise.”

Drivers urged to shop around for fuel

Motorists who are worried about the possibility of price increases have been urged to look for the cheapest petrol station in their area.

“The best advice is for consumers to be more diligent than ever when being aware of what filling stations are charging,” Mr Barker commented.

He added that drivers should also try to make the most of the fuel they buy, for example, by not carrying excess weight in their vehicle and by not accelerating harshly.

What else can I do to cut fuel costs?

Shopping around and using more fuel efficiently are just two good ways to cut the cost of motoring.

But there's a few other things you can also do to save money.

Avoid motorway services 

Motorists are hit with premium prices at service stations, so if you’re planning a long drive, fill up before you get on the motorway.

Sign up for fuel loyalty cards

Some petrol stations and supermarkets have loyalty schemes, so if there’s one or two you use regularly, consider signing up. 

Shell Go+, BPme Rewards and Texaco Rewards allow you to collect points that can be exchanged for money on fuel. 

Supermarket loyalty schemes like Tesco’s Clubcard can also be used for fuel purchases.

Use cashback 

Paying for fuel with cashback credit or debit card could also help offset higher prices.

But remember you have to repay the full balance each month to avoid paying interest, as this could cost you more than the saving in the long term.

Read our blog on 10 easy ways to cut the cost of driving for more money-saving tips.