Petrol and diesel prices likely to go up after major announcement

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Drivers are being warned that the prices of petrol and diesel could increase yet again in the near future. This comes after the Organisation of Petroleum Exporting Countries (OPEC) announced that it will cut its oil production by two million barrels a day. 

Dorry Potter, expert at National Scrap Car, said: “Fuel prices seemed to drop from the spring/summer highs of nearly £2 a litre in some areas of the UK.

“However, petrol and diesel prices now seem to have been stagnant for a while.

“But since it was announced that OPEC will cut oil production by two million barrels a day, we are likely to see these prices increase again in the near future, which will put further stress on UK residents’ income, as the cost of living crisis is already seeing so many struggle with the cost of energy and food.”

Ms Potter added: “It is difficult to predict whether prices will fall again in the future, but with how the current situation is in regards to inflation, oil prices increasing and supply decreasing it is unlikely that we will see prices fall to previous lows of 1.14p a litre.”

With that in mind, the RAC urged drivers to make small, simple changes to their vehicles to help them dramatically increase their fuel efficiency.

To help deal with the expensive fuel costs, drivers are being urged to pay attention to their car and make necessary changes to ensure they save money.

The RAC and Toolstation are letting motorists know how they can boost their fuel efficiency, keep their costs down and improve the condition of their vehicle.

An RAC spokesperson said: “There are some simple ways to help you save fuel – and here at the RAC, we have an expert guide looking at all the ways you can implement this if you are looking at cutting costs.”

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They urged drivers to concentrate on regular maintenance and servicing as it improves the efficiency of the vehicle, and therefore improves fuel consumption.

They highlighted that this was particularly important for tyres, which need to be inflated to the correct and legal specifications.

Another fuel-saving tip is to hold back on the speed, with the RAC saying excessive speed is the “biggest fuel-guzzling factor”.

Having a light right foot and ensuring all acceleration is gentle is very important for fuel-efficient driving.

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The spokesperson added: “Fuel efficiency is all about keeping moving and not losing momentum.

“Accelerating and fast braking is very costly in fuel consumption terms, and so is going up any steep incline.

“Being aware of the road ahead and adjusting accordingly can make a massive difference.

“Driving with a window open also has a similar impact. However, using the AC takes power from the engine and so it impacts fuel consumption.

“Only use it when absolutely necessary and avoid for shorter journeys.”

The latest RAC Fuel Watch indicates that the prices of both petrol and diesel should fall in the next few days. 

As of now they seem to linger at around 164p per litre of petrol and 189p per litre of diesel on average. 

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