Switching to LPG could cut fuel costs

Converting your car from petrol to LPG (liquid petroleum gas) could cut fuel bills by 33%-40%, according to The Guardian.

With petrol prices on the rise - petrolprices.com currently lists the average cost of a litre of unleaded at 135.52p - many motorists are looking for ways to cut the cost of running their car. While some may simply drive less, or more efficiently, others have turned to LPG to make their money stretch further.

According to The Guardian, LPG is around 15-20% less efficient than unleaded petrol, but it costs significantly less, and is better for the environment. The initial installation costs around £1,200 to £1,600 for an average four-cylinder engine, and based on a saving of £700 a year on a car that achieves 35 miles per gallon, it would take around 18 months to two years to recoup this cost.

An expert at debt management company Gregory Pennington said: "With many people looking for ways to cut back on their outgoings, one option is converting their car to run on LPG. As a long-term investment it can make financial sense, but the initial outlay is not something everyone can afford.

"Furthermore, for people who want to free up cash for repaying their debts, paying that £1,200 to £1,600 directly towards their debts might make better financial sense.

"But if you have the money saved and simply want to improve your month-to-month finances, then converting to LPG could help with that."