How to get cheaper fuel – ‘secret’ explained as prices soar | Personal Finance | Finance
Motorists concerned about soaring fuel prices due to the conflict in Iran have been offered a straightforward trick to help reduce costs. A money-saving expert says drivers could pay substantially less by using a little-known price comparison app.
The tip comes from Jordon Cox, also known as The Coupon King, who has more than 61,000 followers and close to a million likes on TikTok. In a recent video he told fans: “There’s a secret to getting the cheapest fuel.” Cox explained that drivers should check prices before filling up rather than simply visiting the nearest petrol station. “If you go onto an app called Petrol Prices, it’ll bring up a map of all the prices in your local area at the pump,” he said.
He added that motorists could save money simply by selecting a cheaper forecourt nearby. “Instead of going to your closest one that’s probably more expensive, go to the cheapest one and save a bunch on your fuel,” he said.
The PetrolPrices app works by gathering data from thousands of petrol stations across the UK. According to PetrolPrices, it monitors prices at more than 8,000 forecourts and enables drivers to compare petrol and diesel costs in their area.
Users can search their postcode to locate the cheapest pumps nearby. The service says this can help drivers save up to £200 annually by avoiding higher-priced stations.
The guidance comes as fuel prices in the UK start to rise again amidst global tensions. According to the RAC, the average price of petrol has increased to around 148p per litre in recent weeks whilst diesel has ascended above 156p per litre.
Analysts state that geopolitical instability is a significant factor driving prices upward. The International Energy Agency reports that conflicts in major oil-producing regions can disrupt supply and elevate crude oil prices globally.
Recent tensions associated with the conflict involving Iran have exerted additional pressure on global energy markets. According to Reuters, worries about disruptions in the Middle East have caused volatility in oil prices because the region supplies approximately a third of the world’s crude.
Higher crude oil prices typically translate into higher pump prices for motorists. Research from the RAC Foundation explains that wholesale oil costs constitute the largest portion of what drivers ultimately pay for fuel.
This means drivers could experience the impact of global events swiftly when tensions intensify. Experts suggest tools that compare forecourt prices may become even more valuable as fuel costs continue to fluctuate.
