Fuel giants BP and Shell have reported massive third-quarter profits totalling nearly £9billion, thats a whopping £4million pound an hour. The head of BP has admitted higher pump prices have led to the company posting record profits of £6.4billion in three months, sparking furious claims the company is profiteering. Labour MP John McDonnell said: 'This is a grotesquely obscene level of profiteering by BP and I will be calling in Parliament for price controls and profit windfall taxes.'

The news comes after plummeting fuel prices have prompted OPEC to further cut oil production to drive prices back up - so make the most of the recent low fuel prices

The cost of a litre of petrol has dropped below the magic one pound mark for the first time since December 2007. With financial markets around the world crumbling and the price of oil at only $80 a barrel from a high of $147 it’s the UK motorists that are reaping the rewards. UK Supermarket ASDA have been the first to slash prices below the one pound mark and others are likely to follow suit. The fall oil prices has been widely reflected on the stock market, with shares in BP sliding nearly 4 per cent.

TyreSafe "the UKs leading tyre safety organisation" is advising motorists that they can make a significant reduction to their motoring running costs by keeping their tyres correctly inflated. According to research conducted by a major tyre manufacturer and member of TyreSafe, driving on tyres which are just ten psi under the vehicle manufacturer’s recommended pressure can increase fuel consumption by 2.5 percent.

By keeping tyres at their correct pressure, motorists can travel further on each tank of petrol and help reduce CO2 emissions. Most Hypermilers should already know this but tyre safe are doing a great job keeping our roads safer, our CO2 emmisions lower and our fuel consumption up through public awareness.

Supermarket giant Asda has stepped up the fuel price war by dropping the cost of a litre of unleaded petrol by 1p to 105.9p and of diesel by 2p to 116.9p. The new price drop will apply to 170 Asda filling stations across the UK. This is great news for UK motorists as other Supermarket filling stations responded and also dropped thier prices. This second round of fuel price war is putting further pressure on major fuel suppliers such as Esso and BP to make similar cuts as the price of fuel drops further.

The most common reasons for carpooling were social occasion trips such as going to the pub and about a third of lift-sharing journeys were to and from work. The biggest worry regarding car sharing was punctuality - with 72 per cent of those polled saying that they would be put off car sharing if it caused them to be late.

A  new survey has revealed that a quarter of Britain's motorists have 'de-cluttered' their cars in a desperate attempt to cut spiralling fuel costs. The poll by MoneySavingExpert.com has also shown that more than half of drivers who admit that they've radically changed the way they drive over the past two years to beat petrol price rises. It even goes as far to reveal that a massive 3 per cent of british drivers have abandoned cars altogether.

UK Motorists have been warned to expect crippling prices to continue at the pumps after the oil cartel OPEC cut production of crude to keep prices above $100 a barrel. According to the AA, the Arab-dominated OPEC was 'holding the world to ransom' and making citizens of the Britain and other Western nations pay the their price of their 'pure greed'.

The AA also accused oil companies of 'profiteering' by failing to pass on the benefits of earlier falling oil prices which ended on Wednesday as OPEC tightened the supply tap and also claim that UK motorists are missing out on cuts of between 2p and 4p a litre, says the AA.

The AA urged Prime Minister Gordon Brown to take concerted political and economic action with other Western leaders to persuade OPEC that such action is unacceptable - and ultimately not in their own interest.

Today oil companies stand accused of cheating motorists out of upto £1.50 a tank after the price of crude oil slumped again on world markets. The cost of crude has now lost more than 25 per cent of its value since July. But in the same period, petrol prices have come down by only five per cent.

The price per barrel of crude peaked at $147 in July and has since been falling, at present the it stands at $104.24. Analysts belive it will fall below the $100 mark over the coming weeks.

"Careful" Karl's Hypermiling website - Hypermiler.co.uk has again been featured in the news. This time in my local Paper "The Stamford Mercury". Since the start of the increased press publicity we have seen visitor numbers rocket and many new forum members join up. In these times where everybody is tightening their belt it seems that Hypermiling has caught the UK publics eye.

Bus and train giant Go-Ahead is keeping a lid on spiralling energy costs and boostings its profits with help from its "Green" drivers. Their drivers are being trained to make sure they drive more defensively, that they do not brake or accelerate harshly. Much like First TransPennine Express initivate they are also motivating drivers with incentives and "green" league tables. They have also been installing black box technology so they can keep track of how well they are being driven.

Go-Ahead's bus profits were 18% higher on the back of passenger growth of 4% to 5% in the capital and 2% to 3% elsewhere, and helped by more efficient fuel consumption.

The survey, commissioned by Warranty Direct have found that charges for car mechanics have increased 11.3% over the past two years, surging well ahead of inflation. Franchise dealers are charging an average of £94.70 an hou r for work on vehicles compared with £87.91 in 2006 – a rise of 7.7% while rates at independent garages have risen by 14.9% over the same period – from £48.43 to £55.63.

Greater London is the most expensive region at £94.26 an hour. This compares with £68.70 for Edinburgh, £78.81 on Merseyside and £78.01 for Cornwall.

Warranty Direct managing director Duncan McClure Fisher said: 'This is not great news for motorists who are already feeling the pinch at the pumps. Car sales are falling, used car residuals are falling, and people are putting off that annual service. As economic conditions worsen, prices could rise further to compensate.'.