Gasoline prices hit their highest in more than seven years – pushing a full tank to £ 72

Gasoline prices hit their highest level in 7.5 years, with average pump prices of 132.19 pence on Wednesday.

This means that the cost of filling a full 55 liter tank will now cost the average driver £ 72.70.

The last time gasoline was higher was in October 2013, when it cost 132.28 pence.

Diesel currently sits at 134.32p on average, its highest rate since June 2019.

It comes as investors raised the cost of crude oil ahead of this week’s meeting of the world’s largest producers. A report said production could start increasing in August.

Yesterday, Brent crude jumped 1% to $ 75.82.



Experts say drivers could cut costs by switching to electric

Luke Bosdet, AA spokesperson on fuel prices, said: “Another surge in oil and commodity prices caused by speculators will once again fuel the ire of drivers.

“With overseas travel so severely disrupted, auto traffic still falling to pre-pandemic levels and reported Covid outbreaks around the world, what is happening with oil and pump prices doesn’t really make sense to a British motorist. “

Bosdet suggested that more drivers should consider switching to electric vehicles.

Currently, they are 7p a mile cheaper than gasoline at standard charge rates, and 10.5pa mile cheaper at off-peak hours.

He added that the move would allow drivers to “break free from fossil fuel price shocks.”

This in turn would mean “no longer being leaned over a barrel by speculators and the fuel trade”.

We’ve got a guide to the cheapest cars to use here – find out how much your engine costs.



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There are steps you can take to reduce costs

Tips for saving fuel

1. Refuel at busy gas stations

These stations buy more fuel and can take advantage of the lower prices. “Big gas stations have daily deliveries so they can change the price,” Arthur Renshaw, of gas station analyst Catalist Experian, told The Mirror. “But a small gas station in a village can have a delivery every two weeks.”

2. Choose a large station

The stations buy their fuel from the wholesale market. As in any other negotiation, big buyers are better able to close a deal.

3. Search for a group of stations

When several stations are close to each other, they are more likely to drop prices to tempt drivers. “If you’re in the Highlands and Islands of Scotland you have a lot less competition than in central Manchester,” Renshaw said.

4. Do your research

The PetrolPrices.com site allows you to compare prices in your area. It also lists the latest average prices, so you know if you get ripped off.

5. Play the supermarket game

Supermarkets compete on fuel prices with everything else. When shopping, keep an eye out for coupons offering discounts on gasoline. But beware of the overall cost.

“It’s one way to get prices down below £ 1, but you have to buy a lot of food to get that result,” said Peter Zaborszky, owner of PetrolPrices.com.

6. Stop in provincial towns

Airports, highways, expensive cities and rural areas have the highest charges, according to PetrolPrices.com analysis. “The Golden Path is in the middle where the rent is cheap,” Zaborszky explained.

Are electric cars expensive?

Prices start at around £ 15,000 with a mid-range model at £ 30,000.

Most manufacturers offer scrapping discounts. Mazda is offering £ 6,000 off the price of any model emitting less than 136g / km CO2 if you trade in your pre-2010 diesel or gasoline.

In addition to scrapping offers, drivers can claim up to £ 3,500 for an electric car under the government’s Plug-In Car Grant, plus up to 75% for a home charging point.

How far does a full charge cover?

Most electric cars have a range of 100 to 150 miles. A battery should also last around 10 years. However, the capacity of the battery will decrease with age and use, potentially up to 60% after a decade.

How much will it cost to charge?

According to Pod Point, a full overnight charge at home will cost around £ 3.64.

For a range of 100 miles, that equates to less than 4 pence per mile – a third as much as a very economical gasoline or diesel.

Many charging points in the car parks are still free, but you may have to pay for fast chargers – around £ 6.50 for 30 minutes.

What about taxation?

Electric motors are exempt from road tax. However, if it has a published price over £ 40,000, you have to pay £ 310 per year for five years from the second taxation of the vehicle.

How can I invoice?

The same way you charge a phone, you just have to plug it in. But the industry has yet to standardize connectors. So while some use a three prong outlet, others need a special wall box for home charging.

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