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Hello and welcome to the second edition of our MotorMouth newsletter.
In the past month fuel prices throughout Australia have soared, with daily
average fuel prices in most areas exceeding $1 a litre at some point.
Worldwide, people have experienced record high petrol prices. In the UK prices
reached over 80pence per litre, a number of international and domestic airlines
have imposed a fuel surcharge on ticket prices because of the continuing rise
in oil prices and in the United States, motorists faced with rising fuel prices
have been going online in droves to search websites (similar to Australia's
MotorMouth) to find the cheapest place to buy petrol.
So, why have fuel prices risen? How long might they remain so high? What we can
do to save money on the cost of fuel?
Why are fuel prices so high at the moment?
Essentially our fuel prices are reflecting the sharp rise price of crude oil
worldwide. Crude oil prices have reached US$42 a barrel, which is the peak
price since 1990 during the Gulf War.
The rising demand for fuel (particularly from the rapidly developing nations,
China and India) combined with a fear that oil supplies will not be able to
keep up with the overall demand in the future are believed to be the major
causes of the sharp increase in crude oil prices. There is also considerable
apprehension that escalating violence in the Middle East will disrupt oil
production and therefore result in even higher prices.
How long can we expect fuel prices to remain high?
There is huge speculation about how long fuel prices will stay high. Some
analysts believe that the price of crude oil will fall back to the US$30 a
barrel as unrest in the Middle East subsides. Others consider that oil prices
will rise steadily for the next decade, simply because demand will be greater
than supply.
In the short term, the general consensus is that Australian motorists can expect
fuel prices to remain high. It normally takes two weeks for rises in crude oil
prices to affect pump prices, so while crude oil remains above US$40 a barrel,
the outlook for fuel prices will not be good for motorists.
What can we do to save money on our fuel bill?
I am sure many of you are familiar with our tips for saving money on your fuel
bill. In fact, most of our fuel saving tips have been sent in by you, our
readers. However, given that fuel prices look like they could be high for
sometime yet, what better time to refresh our memories to ensure we are all
getting the most out of our fuel dollar! Remember, if you have a fuel saving
tip that you think should be added to our Top Tips, go to the Fuel Saving Tips
section further on in the Newsletter and send it through. You could win a $25
fuel voucher for sharing your great tip.
MotorMouth's Top Ten Fuel Saving Tip
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Register for free with MotorMouth (www.MotorMouth.com.au) and search for the
cheapest fuel in your area.
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When prices are lower, fill up your tank with as much fuel as you can possibly
afford.
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Don't wait until the fuel tank is empty before you buy petrol.
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Don't carry unnecessary loads around in the car.
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When sitting at a set of traffic lights or in traffic for an extended length of
time, put your car into neutral or park.
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Always try to accelerate gradually and steadily rather than putting the foot
down hard, taking it off quickly and then having to brake to stop from running
into the car in front.
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Reduce your general driving speed and you will reduce your fuel consumption.
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Clean air filters regularly.
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Keep you car as aerodynamic as possible.
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Service and tune your car at least once a year and also check your tyre
pressures at least once a month.
There is a great deal of discussion about fuel prices in the media at the
moment. To read more about fuel and crude oil prices, simply complete a search
on your favourite search engine. Some of the overseas news articles are
particularly interesting.
And finally, for those who haven't already signed up for their free daily fuel
price emails, remember every user who does sign up for our free e-mails before
the end of this month has the chance to win one of 2 fantastic $250 car or
campervan hire vouchers from DriveNow.com.au. To learn more about the
MotorMouth / DriveNow competition,
click here. To receive your free emails, login to the MotorMouth
website, click on Create Email and complete the short set up process. If you
have already signed up, you can enter the competition from the link in each
daily email.
Good luck with the DriveNow competition and please contact us if you have any
questions or comments regarding MotorMouth and our money saving services.
Until next month...
Bernadette Murray
Marketing Manager - MotorMouth
bmurray motormouth.com.au
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