Facing £2 diesel? Here are the savvy forecourt tricks saving drivers money right now

The fallout from the big orange man across the pond appears to know no bounds. The British public cannot catch a break. First came the tariffs, with a 10% duty slapped on most UK exports to the US, adding costs and uncertainty for British businesses already buckling under a difficult trading environment. Now it’s fuel bills.

The conflict in the Middle East shows no sign of a real ceasefire, thus sending wholesale gas prices hurtling to heights not seen before. While Trump has since backed away from his threat of an export ban on US diesel, his pressure on Europe to release emergency diesel reserves shows just how precarious the global fuel market is right now. And while releasing emergency stocks should help ease prices in the short term by putting more diesel on the market, it does make me question what comes next.

I remember seeing petrol prices fall below 130p a litre in February, and it finally felt like we were on the up. What an idiot I was to have some optimism! Now, the average litre of unleaded is around 175p, while diesel has smashed through the £2 mark. A 55-litre tank of petrol is now costing £96, while filling the same tank with diesel is an eye-watering £110.

Subsequently, you won’t be surprised to hear that saving any cash I can at the forecourts is very high on the agenda for me. Here are a few tips I’ve picked up that I hope will genuinely make a difference for you, too.

Starting off strong, Asda Reward customers who spend £40 in participating stores before October 14 will get a 5p-per-litre fuel discount coupon. You must redeem the savings before October 31. Tesco has a similar deal, but customers get 8p off per litre if they spend at least £60 in-store by October 18. Even without coupons, supermarkets are generally the cheapest places to fill up the tank. According to RAC’s Fuel Watch, Asda offers the lowest average petrol price (at the time of writing) at around 173p a litre, while Tesco offers the cheapest diesel at 197.6p.

Use a fuel price comparison app, like PetrolPrices or FuelPal, to find the lowest prices nearby. Other tips to preserve the fuel you do have, according to the trusty AA, include sticking to consistent lower speeds. Driving at 70mph uses 9% more fuel than 60mph, and 15% more fuel than 50mph. Taking off unused roof racks or heavy goods from the boot can also help, as can backing into parking spaces. Apparently, you lose less fuel when you pull off. One to try - I’ll take anything at this point.

DEAL OF THE WEEK

Grab a £1 coffee at Co-op’s Costa Express drinks machine every Friday in October. Normally priced between £2.40 and £4.15, the deal could save you some serious pennies.

NS&I hikes interest rates - but is it enough?

NS&I upped the interest rates on its British Savings Bonds this week. Savers can bag between 4.89% and 5.17% AER on the new issues of its one, two, three, and five-year Guaranteed Growth and Guaranteed Income Bonds. The HM Treasury-backed institution said the increases come in response to the wider savings market, which is good news for savers all around, really.

Or bittersweet - interest rates have been on a downward trend in recent months, thanks to the Bank of England consistently lowering the Base Rate. But with cost-of-living pressures ramping up again, markets are unsure whether we’ve yet to see central interest rates rise, which would drive mortgage and loan rates even higher than they are now.

A lot of people funnel all of their savings into NS&I’s accounts, from the fixed-rate growth bonds to its Premium Bonds. I get it, the venerable NS&I is somewhat of a national treasure - the longstanding institution that launched back in 1861 to help the ordinary people save.

But, while they can be beneficial for high earners, as they offer tax-free savings and 100% deposit security, they’re not always the most competitive accounts. NS&I’s latest rates still sit outside of the top tables, Moneyfacts’ Rachel Springall pointed out recently. Other providers are offering up to 5.35% at the time of writing, garnering much larger returns on saved deposits. Shop around before committing, using comparison sites like Moneyfacts or MoneySavingExpert.