Families warned over petrol prices

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Petrol prices

Petrol pricesIs the cost of petrol a nagging strain on your family budget?

If so, take cover, because financial experts have claimed that prices at the pumps are only likely to rise further in the new year. In fact, it has been claimed that by the end of 2015 a typical full tank of fuel is going to cost more than £100.

Knowing this dreaded milestone could soon be round the corner, now may be a good time for families to take a look at this simple guide to saving money on motoring.

The tips offer information on keeping on top of general wear and tear with jobs such as checking your oil; checking tyre pressure to boost fuel consumption and the importance of keeping your boot free of extra weight.

Experts at Ernst & Young ITEM Club said that fuel prices will rise again because of an oil boom in 2012, adding that the price of a litre of unleaded petrol will reach 154p by December 2015. This is compared to 134.8p now.

Along these lines, filling up a Ford Mondeo with a 70-litre tank will reach £107.80 - rising from the current average of £94.36.

ITEM Club economist Neil Blake said: "By 2013 prices at the pumps will be eating into household finances once again. Demand from the emerging markets will maintain the pressure on inflation, as will the increase in fuel duty on the home front."

 

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