Fuel prices are on the rise. It's finally taking its toll on transportation costs. According to the most recent inflation figure, transportation costs have risen by 18.9 per cent. The main culprits are higher fuel prices and airfare hikes.
The EU currently imports about 40 per cent of its natural gas and 27 per cent of its oil from Russia. The continent is vulnerable due to the ever-changing situation. The EU has also recently promised to reduce that number to 10%. European leaders have issued a nine-point plan to cut fuel use to slow the likely need to 'ration' car fuels, heating oil, and gas by the end of 2022. This initiative is excellent for stemming the flow of money to Russia, but how will it make up the fuel shortfall to keep the EU running?
As we head into summer, many of us look forward to hitting the open road for a well-deserved vacation. However, according to the European Commission and the International Energy Agency, fuel prices will rise in the coming months. As a result, both organizations predict high fuel demand during the summer driving season.
In addition, the winter of 2022 is also expected to be a high-demand period for fuel, as people crank up their heaters to stay warm. So while there is no need to panic, it's always good to be prepared for potential price hikes.
Here is a breakdown of ideas to help you reduce your fuel cost and keep your hard-earned money in your pocket.
Turn down the heating and use less air con.
Heating and cooling our homes takes a lot of energy. Around 40% of the average home's energy usage goes on heating and cooling. Therefore, turning down the heating and using less air conditioning can significantly affect our fuel bills and carbon footprints. For example, try setting your thermostat just one or two degrees lower than usual in winter. You probably won't notice the difference, but it will significantly dent your fuel bill. In summer, open the windows and doors to allow natural ventilation instead of running the air conditioner. And when you do need to use an air-con, try to set it at a higher temperature – every degree that you increase the temperature can save you up to 10% on your cooling costs. So next time you reach for the thermostat, think about making a small change that could significantly impact your wallet and the environment.
Adjust your boiler to ensure it's at its most efficient settings
Many people don't realize that their boiler's settings can significantly impact how much money they spend on their monthly energy bill. You can ensure that your boiler is running at its most efficient settings and save yourself some money by making a few simple adjustments. The first thing you need to do is check the boiler's pressure. It will use more energy to heat your home if it's too low. You can easily adjust the tension yourself or call a professional if you're not comfortable doing it yourself. Next, take a look at the boiler's timer. If it's set to come on and off at odd times, it's likely wasting energy. You can save money by setting it to come on and off at regular intervals. Finally, make sure that your boiler is serviced regularly. A good service will ensure that it's running smoothly and efficiently. Following these simple tips, you can save money each month on your energy bill.
Work from home if possible
Working from home is a great way to save money on bills. You don't have to worry about gas; you can save on your electric bill by not using as much power during the day. In addition, you can save on food costs by eating at home. And, of course, you don't have to buy expensive office wear or pay for dry cleaning. Overall, working from home can save you a lot of money on your monthly expenses. Plus, working in your own space makes it more comfortable to take breaks whenever possible. So if you have the option to work from home, it's worth considering.
Use your car more economically.
If you're looking to save money on fuel, you can do a few things to make your car more economical. The first thing is to ensure you're using the most efficient route possible. This means mapping your journey before you set off and avoiding unnecessary detours. In addition, it would be best to avoid peak times when traffic is heaviest as this will use up more fuel. Another way to save fuel is by keeping your car well-maintained. This means regular servicing and checking your tire pressure, as low tire pressure can result in higher fuel consumption. Finally, avoid sudden acceleration or braking, leading to higher fuel consumption. By following these simple tips, you can start to save money on fuel and be more economical with your car usage.
If you're looking to save money on fuel, one of the best things you can do is reduce your speed on the motorway. While it might not seem like much, those extra few miles per hour can add up when it comes to fuel consumption. For every five mph over 60 mph you drive, you're paying an additional 10 cents per gallon for gas. So if you're looking to save money at the pump, slowing down is one of the best ways. Plus, it's not just your wallet that benefits - driving at a more moderate speed can also help to reduce emissions and help protect the environment. So next time you're cruising down the motorway, remember - the slower you go, the more you save.
Avoid driving on Sundays if you live in cities with efficient public transport options.
If you live in a city, there are often public transport options. There's no need to use your car every Sunday. You can save money on fuel and avoid the hassle of driving and finding parking. Plus, you'll help to reduce traffic congestion and emissions. So next time you plan a day out, leave the car home and take advantage of your city's efficient public transport system.
Walk or cycle when you're going shorter distances, leave the car at home.
Walking or cycling is best whenever you're going shorter distances. It is better for the environment, but it can also save you money on fuel. If you live close enough to work, school, or the grocery store, consider walking or riding your bike instead of driving. You'll save money on gas and get some extra exercise! You'll also do your part to help reduce traffic congestion and pollution.
Use public transport as often as possible instead of a private car.
Anyone who's ever been stuck in traffic knows that driving can be a frustrating experience. In addition to the wasted time, fuel costs and the constant wear and tear on your vehicle. One way to save money and reduce stress is to use public transportation instead of a private car. While it may not be possible to completely give up your vehicle, using public transport for commuting or running errands can save you money on fuel and help reduce pollution and traffic congestion. Plus, you can use that extra time on the bus or train to relax, catch up on work, or enjoy a moment of peace. So next time you're stuck in a traffic jam, consider taking the bus or train instead. It could be the most brilliant move you make all day.
Opt to travel by train or ferry rather than booking a flight.
Flying has been the fastest and most convenient way to travel long distances for years. However, as fuel continues to rise, flying is becoming increasingly expensive. Taking the train or ferry can be a great alternative to booking a flight for budget-conscious travellers. Travelling by rail or sea can be cheaper, but it can also be a more relaxed and enjoyable experience and be part of the holiday itself. You can move around freely, enjoy the scenery, and socialize with other passengers on a train or ferry.
In contrast, flying can be cramped and uncomfortable, not to mention stressful. So next time you plan a trip, consider taking the slow road instead of booking a flight. It could save you both time and money.
The good news is that there are many things you can do to reduce your fuel costs without making significant changes to your life. I'll be sharing more tips in the coming weeks, but for now, start with these easy steps and see how much money you can save. Are you ready to start saving? Then, follow me for more great money-saving tips!