Tuesday 10 June 2008

Fuel savers: how to beat the soaring cost of petrol and home heating

With a full tank now costing many drivers more than £60 and the average domestic energy bill forecast to reach £1,300 this year, Lisa Bachelor offers tips from industry experts on ways in which you can reduce the growing financial burden
A debt charity that helps professionals who have fallen on hard times has raised how much it gives out for transport costs in the last month by more than half, entirely because of rising petrol prices.

Elizabeth Finn Care, which says its clients are typically those with good qualifications and responsible jobs, spent a total of £17,000 on transport in March, which includes petrol, tyres, servicing and MoT. In April, this amount shot up by 53 per cent to £26,000.

The charity gives to those who have suffered from events that have left them struggling to cope on very little money, including things such as long-term physical or mental illness, family breakdown, bereavement or redundancy.

'This rise in the amount we have paid out in the past month is entirely to do with the increase in the cost of fuel,' says Rebecca Ward of Elizabeth Finn Care. 'Our clients tell us that without our help they now wouldn't be able to afford to take their kids to school.'

The charity's spending reflects the rise in fuel costs affecting the whole of the country. According to comparison website Uswitch, petrol prices are up 31 per cent since last year, with the average driver now paying around £64 for a full tank. Last month oil prices broke through the $125 mark, fuelling a near-record rise in petrol prices, according to the AA. The average petrol price - at the time of writing - is 116.3p per litre, while diesel is 129.8p.

Domestic energy prices are also at record highs, with experts predicting that gas and electricity bills could rise a average energy bill in the UK to around £1,300. Heating oil users, typically those who live in rural areas and have no access to mains gas, have been hit even harder. The average price for heating oil has almost doubled over the past year, from 32p a litre to 60p a litre last week, according to supplier website Boilerjuice. So what can you do to keep costs down?
Lisa Bachelor

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