However, the price is expected to drop again, before the scheduled rise by the government in August 2012. With such unpredictability at the pumps, many consumers have been left scratching their heads, whilst also digging deep into their pockets.

When it comes to establishing fuel prices the problem is that we’re not just reliant on the amount the government want to tax, we’re also reliant on the wholesale price set. Whilst fuel duty and VAT make up around 60% of the price we pay, the remainder of what you pay is made up of the price that is bought and sold. Despite the government putting a freeze on the amount they tax until August 2012, the price at which fuel is being bought and sold has seedily risen, hence why consumers are being hit in the pocket at the pumps.

However, in the coming weeks, it is expected that wholesale prices will drop significantly by 5p-a-litre. This is excellent news for the British public, most of who are seeing their monthly wages stretched further and further as the price of goods and services become increasingly expensive. It’s not just the cost of fuel that’s been rising, but food, bills as well as the general cost of living. Nevertheless, a 5p-a-litre cut in the wholesale price of fuel will be welcomed news to most.

In addition to this, many families in the UK spent well over the odds back in March 2012, as a spate of panic buying saw tanks being filled up to the brim, at extortionate costs. It was believed at the time, many fuel providers were increasing their prices to take advantage of the situation. The panic buying was caused by a rumoured strike, which never materialised.

With the government scheduled price rise in August 2012, the average price of petrol could rise back up to 145p a litre, with the cost diesel at 150p a litre. The unpredictability of what consumers will be paying at the pump is wreaking havoc on their finances, and given that this is expected to rise, further unrest is bound to ensue. The threat of strikes will loom once again, with the situation being far from stable.

Analysts believe that the time is right for the oil and road fuel markets to become transparent, so that public have a greater insight into why they are paying so much at the pump. Having to pay more as a result of taxation is one thing, but to see the way that the prices are controlled and maintained would provide the 35 million UK drivers information on what they will be paying, and more importantly why.

The ultimate aim though is for a great deal of stability, so people in the UK can establish what they will be paying and hence budget their finances accordingly.

For example, despite the latest decrease, unemployment figures are still high, and are significantly higher than exactly one year ago. The summer of 2011, saw a dramatic rise in unemployment, which tailed off towards the end of the year, according to Nick Palmer from the ONS.

There are more concerns for long term employment too. Long-term unemployment is up approximately 50% on the year, which is worrying, especially for those who have been out of work for over a year. It’s believed the figures from the ONS are marred with knowledge that a lot of the employment has come from part-time positions, and a lot of people are taking positions with less responsibility, fewer hours, and a lower salary – or underemployment as it’s known.

Full-time employment figures do not look so good, and now there are 1.4 million employees that find themselves stuck in part-time work. With the number of people stuck in long-term unemployment at an all time high, the fear is that unemployment has become deep-set within society. The alternative is for the unemployed, especially younger people, to take jobs beneath their skills set and experience. Whilst youth unemployment (16-24 year olds) has fallen to 1.03 million, it still remains high at 22.2%.

So what, does all of this mean for those who are in work, but not necessarily settled in a career they want to be in? Well, many analysts have agreed that the figures from the ONS are slightly deceiving as they don’t take into consideration the long-term unemployment problems, whilst the issue of part-time employment and underemployment still exists. For those who find themselves stuck in this situation, then financially they’re not much better off.

This risk is those within this category, especially young people, will find gaining independence a struggle, and they may even source out financial solutions such as short term loans. Being able to pay for bills, food, fuel (the essentials) is becoming harder and harder for households, let alone young members of society. To help pay for emergency financial situations, the option of payday loans are there. However it must be stressed that anyone looking for this type of financial solution only does so if they’re absolutely certain they can repay the money (including any additional charges and interest) on their next payday.

Unemployment figures still have a long way to go before the country’s economy can flourish once more. For anyone that is struggling financially, there are options out there, however it is advised to borrow responsibly, and only when you absolutely need to.

First of all, understand when you should apply. For example, if you desperately need money to pay for emergency repairs or outstanding bills, then you should definitely consider getting a payday loan. However, if you require the money just to head out with friends, knowing full well that you may not be able to pay this off on your next payday, then you may want to consider staying in and saving your money instead. As a rule of thumb, with whatever circumstance you face, if it’s going to cost you more by not taking out a payday loan, then you definitely need to consider this as an option.

Only borrow the money if you know you can pay the money back in full (including any fees and interest) on your next payday. This means that, depending on what you earn, this should dictate the amount you borrow. Lenders will consider this anyway when you apply for a loan, so they will never lend you more than what you can actually pay back anyway, but you do need to think about only borrowing just what you need, and no more.

Early repayment is a good idea if you are using a lender that breaks down your loan interest on a daily basis. However, some lenders will calculate the interest you pay based on your next payday. With this in mind, it may not actually benefit you repaying the loan any earlier. However, it’s always best to check with the lender you choose before applying.

This brings us on to doing your research. Always check the lender’s terms and conditions before applying for a payday loan. That means, check how much you are likely to pay in terms of interest, as well any additional fees and charges. The amount of interest you pay isn’t always as daunting as it looks. For example, some sites state an interest in excess of 2000%. However, it is extremely unlikely that you’ll pay 2000% on what you borrow, unless you don’t repay the lender for an entire year. It’s more likely that you’ll repay around 25% for every £100 you borrow per month. In any case, it’s always worth checking the interest of the lender before you apply.

With this in mind, also check the quality of the lender. Don’t be put off that most lenders will borrow you money. Whilst the payday loans industry still have guidelines to who they can lend to, it’s just not as stringent as banks and other financial institutions. This is no bad thing, as it means getting instant cash advances is a great deal easier than speaking to the bank – ideal if you’re in a financial emergency.

Always be completely honest when completing you application form, and never rush this process, as the smallest of errors may take your application longer to verify. Considering you’ll probably be in an emergency when needing the money, you’ll want the process to be a swift as possible, so just take your time – it only takes about 5 minutes anyway.

So what will the new prices be? Well the Royal Mail have announced that prices will rise from the current 46p for 1^st class stamps to 60p, and from 36p for 2^nd class stamps to 50p. As a result, posting a large letter will increase from 75p for 1^st class stamps to 90p and from 58p for 2^nd class stamps to 69p. The changes will take effect from April 30^th 2012.

With competition increasing, a declining volume of letters being sent and the threat of emails and other electronic messaging services, the decision for the price rise was unavoidable according to the Royal Mail’s Chief Executive, Moya Greene. She explained that in order for the organisation to restore their finances and maintain their universal service, they would need to increase their prices to stay competitive.

The Government back the Royal Mail’s decision, as they look to protect the UK institution. The decision for the increase follows the regulator Ofcom’s decision to allow the Royal Mail freedom to set their own prices.

Whilst the price increases are still relatively cheap in comparison with the rest of Europe, for example after the price rise, 2^nd class stamps will still be the cheapest and 1^st class stamps will be the 5^th cheapest across Europe, families, businesses and consumer groups are still outraged. Consumer groups believe that the Royal Mail couldn’t simply rely on price rises to turn around its fortunes.

But what about the public and businesses who rely on the Royal Mail’s service? Well unfortunately, it’s yet another price rise that is increasing the financial burden on many up and down the UK. When you consider the sheer price hike that families have had to endure, such as fuel, bills, as well as the price of food, then you can see why many people aren’t exactly over the moon at this decision.

However, it appears that the Royal Mail have acknowledged the difficulties that many UK families may be suffering at the present time, which is why they’ve developed a ‘Christmas scheme’. This will allow families on low incomes, those on pension credits as well as those seeking employment and support allowance or incapacity benefits to be able to buy up to three books of 12 stamps at the 2011 prices.

Given the current state of the UK economy it appears this price rise will come at the wrong time for many in the UK. Whilst for the Royal Mail it isn’t serving their public image any good, they appear to have their hands tied as they too look to survive these uncertain economic times.

The new scheme will mean that energy companies will have to let their customers know what the best deals are, and offer it to them if they ask for it. The six big energy firms in the UK, including British Gas, E.ON, NPower, Scottish and Southern Energy, EDF and Scottish Power will have to contact their customers yearly to let them know what the best deal would be. Ministers are hoping that this will save customers as much as £100 per year.

They should also contact customers if they are nearing the end of their contract, to let them know if they could be getting a better deal.

In the autumn, most customers saw an increase of around 15% – 18% in their gas bills, as well as a rise in electricity bills. So, this plan to help customers save money will be welcome.

This move has come as Deputy PM Nick Clegg, has said that seven out of ten people are paying too much for their energy bills. He said that it was unacceptable that households aren’t hold of cheaper available fuel tariffs. In a speech today he said “We can’t control volatile world energy prices but we can still help people get their bills down.

The government have also said that they are looking at maybe putting “quick read” codes (like barcodes) on energy bills by spring 2013. These will contain information about your energy consumption, which will then be seen by other energy companies, who could offer a cheaper deal.

Mr Clegg told the BBC that this change was “an important step” as companies currently don’t have to tell customers if they are on the wrong tariff.

However, all of the work will not be done for you. If you receive a letter and think that you can get a better deal, you will have to chase it up to get more information. Also, you won’t be shown the best deals from other companies either, so it’s always a good idea to shop around.