Anyone with a car can tell you that petrol prices are high right now. In fact, in some Australian states, petrol prices hit new average price records in February 2022.

Unfortunately, experts have predicted that there is ‘no end in sight’ for these high fuel prices. This is because crude oil, the main ingredient in petrol, has become more expensive for fuel retailers as our economy slowly comes out of its coronavirus hibernation.

Now, while we can’t control the global price of petrol, we can instead share with you some tips and tricks to reduce our consumption of petrol to get more bang for our buck. Below are five ways you can save money on fuel:

Check your tire pressure. This should come under regular TLC, but under-inflated tires can cost you more than just repair costs. They can also cause your car to use more petrol as it works harder against your tires rolling resistance. So, make sure your tires are at the correct pressure and remember to book in a wheel alignment regularly too.
Slow down. Reducing your speed by as little as 20km/h can reduce your fuel consumption by as much as 25%. The magic of cruise control can help manage this!
Carpool. Your trip doesn’t start when you arrive, you can make memories on the drive over as well. There are so many benefits to carpooling, like reducing parking space demand, environmental impact, and of course petrol costs.
Lighten the load. Roof racks and spoilers, as well as general weight in your boot or car, increase wind resistance and fuel consumption. Clear out your car and remove any unnecessary add-ons to keep your car running smoothly.
Give your car regular TLC. As a rule, you should service your car every six months or 10,000kms (whichever comes first). This will make sure your car is always running at its best and if all goes according to plan, you won’t have to fork out the big bucks on problems that could have been avoided.

And like with any of life’s big purchases, it pays to make sure you have the best protection you can afford to cover you in the event of an emergency. And we can help with that. Together with our insurance partner, CGU Insurance#, we can help you organise cover for emergency or temporary repairs, replacing your vehicle after a total loss, hire vehicle costs after theft or attempted theft and liability cover. Find out more information about Car Insurance.

#Bank of us ABN 32 087 652 088, AFSL 236870 acts under its own AFSL and under an agreement with the issuer Insurance Australia Limited ABN 11 000 016 722, AFSL 227681 under the CGU brand. Any advice provided is general advice only and does not take into account your individual objectives, financial situation or needs (your personal circumstances). Before using this advice to decide whether to purchase a product, you should consider your personal circumstances and the relevant the Product Disclosure Statement and Target Market Determinations from CGU Insurance.

Bank of us does not guarantee any claim or benefit payable under the insurance policy. We receive commission on insurance products details can be found in our Financial Services Guide