The aftermath of the recent EU referendum is still being felt across the North East. For drivers, there has been numerous suggestions that fuel prices could continue to rise at forecourts throughout the region.
Well-known motoring organisation the AA acknowledged that wholesale fuel prices in the UK are quoted in dollars. As a result, the value of the pound plunging against the dollar risks having an immediate impact on the amount you pay for petrol and diesel at fuel stations.
The AA continued: “Assuming that current market conditions persist … the price of petrol at some fuel stations might be expected to rise by 2.25p a litre, or £1.25 a tank.”
A Spokesperson of the RAC’s Fuel Watch initiative, Pete Williams, took a similar stance when predicting the prices at the pump in the weeks ahead. He pointed out: “We were anticipating a drop in prices at the pump of just over 1p on unleaded and 2p on diesel as wholesale prices had dropped.
“However, while we have seen a significant drop in the price of a barrel, the fall in the value of the pound against the dollar is likely to make the wholesale cost to UK retailers higher, meaning a price rise of around 2p per litre is likely in the next week.”
With motorists facing the prospect of paying more to drive as a result of potentially rising fuel prices, leading van lease company Northgate is on hand to offer advice on how to bring down the cost elsewhere.
This is because the firm is encouraging motorists to change their driving habits in the following ways:
- Take corners in a smoother manner, to avoid placing undue pressure on a vehicle’s steering components and suspension system.
- Avoid accelerating too aggressively, to ease the pressure being placed on a vehicle’s clutch.
- Refrain from braking too harshly; this manoeuvre causes brake pads to wear down much more quickly than they should.
- Don’t allow the rev count to become too high before changing gears, in order to reduce the stress being placed on a vehicle’s engine.
Looking for more insight into how changing your approach behind the wheel can save you money? Read Northgate’s entire blog post on the topic by clicking here.