Fuel prices increased this month with the January duty increase and the VAT rise resulting in spiralling pump prices. The fuel price increase is taking the average cost of a litre of diesel in some areas to nearly £1.30 a litre.
Fuel is everything in the economy, it affects everything. People living in rural areas where owning a car is essential are greatly affected by the fuel increase. The most expensive petrol station in Britain is the Texaco garage under Chelsea Cloisters, in swanky Sloane Avenue, London, where standard unleaded fuel costs 1.59.9p a litre and super unleaded is an unbelievable £1.64 per litre. Prices could shoot up further in April when another 1p fuel duty is set to be introduced combined with inflationary costs. It is predicted that from April that British drivers will be paying the highest diesel prices in Europe. The UK is already one of the most expensive places in the world to fill up with fuel, the Americans can fill two and half tanks for the price Britons pay for one.
Together with the fuel increase we can expect labour costs and the price of car parts to increase in line with inflation. Getting your car serviced when needed, does require you to spend a one off amount on a yearly basis, but will save you money in the long term as fuel is set only to increase. Look out for further deals on MOT’s and servicing to save you money elsewhere. A car with an engine or parts that does not run at its optimum will consume more fuel, making your journeys more expensive.