In the latest of our cost of living crisis in Scotland series of articles, Trust Deed Scotland® focuses on petrol price increases in Scotland. Recently, as reported by the RAC, petrol prices have just topped £100 to fill up the average family car in the UK.
With day-to-day costs like energy bills, the weekly food shop and rent are rising steeply. If you’re worried about being able to afford to live, you’re not alone. Many people are struggling to cope with the rising cost of living, so if you feel like you have reached a level where your debts have become unaffordable, it’s important that you seek tailored Scottish debt advice as quickly as you can.
Andrea Coscelli, CEO of the Competition and Markets Authority (CMA) recently said record pump prices are ‘causing significant concern’ for millions of people in the UK and that the watchdog will carry out a ‘short and focused review’ of fuel prices.
As many as 21% of the Scottish population live in rural areas, depending on petrol for necessitous journies however many of these areas are inhabited by a higher percentage of elderly residents who have been identified as a group who are more at risk with the rising cost of living in Scotland.
However high road fuel prices are causing significant concern for the millions of consumers and businesses who rely on being able to afford to fill up their vehicles.
PetrolPices.com reports that the average petrol prices in Scotland rose from 127.92 pence per litre (PPL) in Jun 2021 to 184.64 PPL in June 2022. A 44.34% increase in Scottish petrol prices.
Similarly, diesel prices in Scotland rose from 130.09 PPL to 190.78. A 46.65% increase in Scottish diesel prices.
Why are petrol prices so expensive in Scotland?
Petrol prices have increased sharply in Scotland because the price for crude oil, which is used to make petrol and diesel, has gone up.
Crude oil was cheaper at the beginning of the Covid pandemic because many businesses temporarily closed and demand for energy collapsed. However, this has been impacted further by the war in Ukraine with sanctions being placed on Russia. 11% of UK oil is imported from Russia.
As life returned to normal for most people across Scotland, the demand for energy increased. Suppliers have struggled to keep up and prices have risen.
Another problem causing an increase in Petrol Prices increasing in Scotland is that the oil used to make petrol is paid for in US dollars. The pound is weak against the dollar at the moment, which makes fuel even more expensive.
Petrol stations say that they have been ‘unfairly scapegoated’ after the UK government raised concerns a 5p fuel duty cut was not being passed on quickly enough to drivers.
So far neither the Scottish nor UK governments have ruled out specific measures to tackle increasing petrol prices but have put together a £37bn package to help families deal with the wider rises in the cost of living such as the recent announcement that Scottish households will get a £400 energy bill discount.
How to get cheaper petrol in Scotland?
The price comparison website confused.com offer a service that allows you to search for petrol and diesel in your area by entering your postcode. PetrolPrices.com also show the cheapest petrol stations per area, however, you will need to sign up for a free account to be presented with any useful information.
MoneySavingExpert.com working alongside RAC offers some practical advice on making your car more fuel-efficient. That advice includes keeping your tyres inflated and decluttering your car to then also making some recommendations about driving your car more efficiently including how you brake, to changing gears and acceleration tips.
Help to repay unaffordable debt in Scotland
The cost of living crisis is affecting people from all walks of life across Scotland, whether they are in financial difficulties or not.
However, if you feel like you’re really struggling with your unaffordable debts as a result of not having enough money to pay all your bills there is help available for you.
Trust Deed Scotland® have helped thousands of people in Scotland become debt free since 2009. We have dealt with cases that included council tax arrears, credit card debts and payday loans.
We’ve successfully prevented and lifted creditor enforcement actions such as Wage Arrestments.
Whatever the cause of your money problems, Trust Deed Scotland® can help you to understand your options, find a solution and let you focus on life after debt.
Contact us on 0141 221 0999, or start by simply using our debt calculator tool online to quickly check what your options may look like. Download our free Scottish debt guide for more information on the types of solutions available for you.