Top 5 tips to save money on petrol, diesel

After a brief pause, the prices of petrol and diesel have been rising sharply in the last couple of weeks burning a big hole in a consumer’s pocket. Since India meets most of its crude oil requirements through imports and any major cut in taxes seems unlikely in the near future, car and bike owners should explore ways to reduce their spending on petrol as well as diesel.

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Here are the top five tips vehicle owners can follow to reduce spending on petrol and diesel purchases -

1. Using co-branded fuel cards

Oil marketing companies like Indian Oil, HPCL, and BPCL have tied up with major banks to offer co-branded fuel credit or debit cards. By subscribing to these cards one can get benefits like rewards points on fuel purchases and waiver of fuel surcharge, etc.

2. Using pre-paid fuel cards

Besides the co-branded cards mentioned above, oil retailers are also offering prepaid fuel cards. By purchasing these cards, vehicle owners can get reward points with every purchase of fuel as well as lubricants in the respective fuel stations.

However, customers should check with card issuers if there are any processing fees or hidden charges before opting for the above mentioned co-branded cards and pre-paid fuel cards as higher subscription charges will offset the benefits they are offering.

3. Using digital wallets

While digital wallets don’t offer any fuel purchase specific rewards, by spending through the wallets for petrol and diesel make you eligible for reward points similar to other transactions. It also saves you from the hassles of carrying cash and cards.

4. Proper maintenance of your vehicle

Small things like changing the engine oil at regular intervals, clearing clogged air filters, and maintaining the proper tyre pressure go a long way in reducing the fuel consumption of your vehicles and ultimately your expenditure on fuels.

5. Avoiding bad driving habits

According to a study by the Petroleum Conservation Research Association, a government agency, while a careless driver may cover 1000 kms on 280 liters of diesel, an efficient driver would need only 250 liters to cover the same distance. It is a clear saving of 30 liters. The study further revealed that switching off the engine while in gear, clutch riding, delayed gear changing, and rash driving are some of the bad practices that consume more fuel.