THE facts speak for themselves...

According to a recent study undertaken by Confused.com, 40% of British drivers are intentionally attempting to drive less to save on fuel.

However, many people won't have this option, especially those who rely on their vehicle for work.

As a result, drivers have begun looking for ways to extend the life of their fuel tanks, such as removing unnecessary weight from their car, checking that the tyres are properly inflated, and applying less pressure to the accelerator.

It is obvious that growing costs are having an effect on drivers.

You may cut down on how much fuel you use and how frequently you need to refuel by making a few easy driving adjustments.

People can only do so much to lessen the effects of price increases, though.

At the time of writing, the average cost to fill up a 55-litre family car with petrol is £100.27, while the average cost to fill up a diesel vehicle is £103.43.

This is "poor news for everyone," according to the RAC, since it implies "there will almost probably be upward inflationary pressure."  

"Households up and down the country may never have anticipated to see the cost of filling an average-sized family car approach three figures," said Simon Williams, fuel spokesperson for the RAC. 

"Many may be wondering if any additional financial help from the government would be forthcoming," said the RAC, "as many as eight in ten depend on their vehicles."

The government has so far announced a temporary 5p decrease in fuel duty in an effort to assist drivers.  

There have been a lot of complaints, though, that many fuel stations are not passing on the savings to customers.

The Department for Transport is considering identifying and shaming those fuel stations who refuse to pass on the fuel duty decrease, according to the Sunday Telegraph. 

According to a Downing Street source, officials are looking into ways to identify businesses that do not pass on tax savings to customers.

The Prime Minister is eager to execute a further reduction in fuel duty, according to a Downing Street source cited by The i.

The insider said that while tax reductions are something Boris Johnson " definitely wants to cut taxes," they must be implemented at the proper moment to prevent inflation.

This implies that any more government help might not materialise until the Chancellor presents his Budget in the Autumn.

But considering how under pressure the government is to move quickly, may it already be too late?

For instance, Simon Williams of the RAC stated that the 5p fuel duty decrease announced in March, which was touted by ministers as the largest ever, "now appears tiny," as wholesale fuel prices have increased by five times that amount since the announcement.

A further fee decrease or a short-term VAT reduction, he added, "would go a great way towards aiding drivers, especially those on lower incomes who have no option but to drive."

In addition, the RAC has noted that the government is profiting from increased fuel costs since it now charges roughly 30p in VAT on each litre of petrol sold, up from about 25p prior to Russia's invasion of Ukraine.

“On top of this, the government is still collecting 53p fuel duty from every litre,” Mr Williams said.

Should the government act to support drivers now or would hasty action make the inflation crisis worse?

Or should the onus be on us to change our driving habits so we can absorb rising fuel prices at a time when prices are up across the board?

It’s imperative that definitive answers to these questions manifest themselves.

If you’re worried about how rising inflation and commodity prices are impacting your financial planning, feel free to get in touch HERE, and we’ll be happy to offer advice and support.