Eliminate the influence of petrol hikes on your budget

Regardless how well you’ve organized your personal finances. There are certain factors completely outside your control, especially those related to the economy. One such factor is the Nigerian petrol price instability.

Fuel price hikes has an immediate impact on wallets. Due to companies covering their costs it increases the prices of goods and services as result of hikes.

This is why president Buhari is so committed to implement initiatives that’ll reduce Naija’s petrol price.

While our new president’s shake up of the petroleum industry and other sector will most definitely improve our economy. Our pockets may not immediately reap the benefits.

At the moment this is inevitably out of our control. But there is a secret solution to this conundrum.

Each day, many people around the world effectively pursue a bit of personal finance magic. That ensure their finances are unaffected, whether the fuel price increase or decrease.

Not rushing to the fuel pumps the night before the petrol price increases (while some might just save to save an extra buck). Instead of a perpetual wait for the petrol price to decrease, they prefer to reduce their overall petrol consumption.

Purchasing petrol is one of our most common expenses. It is one of those expenses where we easily overspend and potentially break our monthly bank balances.

To banish the influence of petrol hikes over you budget and reduce your petrol consumption. Start taking these steps today:

Keep windows closedOpening windows while driving makes your vehicle less aerodynamic. The vehicle therefore uses more fuel to drive the same distance.

Try carpoolingSplitting your weekly to monthly bill with friends or family. Reduces the number of cars stuck in traffic – while helping you save on petrol and cash.

Attempt to manage acceleration While this is easier said than done, since you need to accelerate to move your car. It’s worthwhile to note that your vehicle requires more petrol to speed up and start. Slow down if you foresee a possible stop ahead due to a red traffic light or traffic jam. This way you avoid wasting fuel.

When going downhill, the weight of your vehicle will cause that the car goes faster. There’s therefore no need to accelerate. During an incline you would probably feel the urge to drive, but instead of putting your foot down on the accelerator, maintain your speed. This uses less petrol during the incline.

Fill your tank in the morningThe chemical density of petrol increases when it’s cold outside. And since it’s usually colder in the morning, you’ll get more petrol in the morning for the same amount of money.

Always check your tire pressureThe average vehicle weighs about 1300 kg. If your tires are incorrectly inflated your vehicle will as a result use more petrol to move its heavy body.

Change to highest gear The higher gear your manual transmission vehicle is in, the less petrol it will burn. Therefore try to get to the highest gear as soon as possible.

Also make sure you are driving in the correct gear. Your car labours and uses more petrol, when you’re driving in a low gear but at a top speeds and vice versa.