The soaring cost of oil has led to the slowing of vehicles of almost every type in Britain, from planes to trains, ferries, merchant vessels, buses and private cars.

Pilots and ships' captains have been ordered to go slow, train drivers have been asked to switch off engines and coast downhill and bus companies are training staff to drive more smoothly in order to cut costs.

As the oil price hit a record high of $142 a barrel (£71.14) yesterday, two big British airlines, easyJet and BMI, confirmed they had asked their pilots to fly more slowly. EasyJet, Europe's second biggest budget airline, said it had cut flying speeds on some routes by up to 2% to conserve cash. "It's like travelling in a car. If you take your foot off the gas slightly, you use less fuel," said an easyJet spokesman.

BMI, Heathrow airport's second biggest carrier, said it had dropped its average flight speed by around 3mph.

The rail industry is also taking measures to reduce the energy consumed by trains, amid high diesel and electricity costs. FirstGroup, one of the biggest rail businesses whose four franchises include First Great Western, is retraining drivers to drive more smoothly between stops instead of wasting fuel by accelerating and braking sharply.

Drivers on its TransPennine Express service are being encouraged to let trains coast down steep gradients, while some trains are running on two out of three engines. TPE passengers also have to be quicker on their feet, with automatic doors on new TPE trains being programmed to close quickly in order to conserve cool air from air conditioning units.

An executive at a UK rail franchise said: "There's a hell of a lot going on. Life has changed, we're all working very hard - we've got to."

The Association of Train Operating Companies is leading industry-wide efforts to reduce fuel consumption. A spokesman said: "We are helping ensure that best practice is spread across the industry and that includes driving more efficiently."

The bus industry, another major consumer of fuel, is also implementing initiatives to encourage smoother driving.

The oil price is also affecting car travel, according to the AA. Drivers are either driving more slowly or staying off the roads altogether. Adam Ashmore, an AA patrolman in Manchester, said the slowdown was evident on all roads. "It's not just motorways, you can see it in town as well. People are definitely driving more slowly." Petrol prices of nearly 120p a litre are also deterring drivers in the south, the AA said, with one patrol member describing Guildford last weekend as a "ghost town" due to the lack of cars.

This is not the first time speeds have been reduced in response to high fuel costs. The 1973 oil crisis prompted the US government to impose a national speed limit of 55mph, cutting state limits which had been as high as 75mph.

Airlines and train operators said their planes were taking off and landing on time, despite the slowdown. "Though this adjustment in speed makes our fuel burn more economically, it does not jeopardise flight punctuality," said a BMI spokesman.

Ferry journeys are taking longer: one of Britain's busiest ferry routes is adding 20 minutes to its journey time in a bid to save fuel. From July, Stena Line will be dropping ships' cruising speeds on two high speed routes: Holyhead to Dún Laoghaire, near Dublin, and Belfast to Stranraer. The crossing from Holyhead to Stranraer currently takes 99 minutes and the change will increase journey time by 20 minutes. The journey time on the Belfast route will increase by 14 minutes.

Nigel Tilson, Stena Line's UK communications manager, said: "We're going to save several thousand tonnes of fuel across the year. We wouldn't be doing this if we weren't going to be saving a considerable amount of money."

Nigel Esdale, managing director of P&O Cruises, said reducing engine speed was one of the ways the company was looking to save money. "Careful itinerary planning, whilst maximising time in the most popular ports and reducing engine speed are just some of the ways we control our fuel consumption," he said.

Maersk Line, another big shipping company, has cut speeds on its Asia-Europe route, with some cargo ships travelling at 20 knots instead of 24 knots, slashing fuel consumption by 40%. "We did do it in response to rising fuel costs but for us it's a win-win situation between being economical and environment concerns," said a Maersk spokesman.

EasyJet and BMI have been joined by carriers across the globe in slashing speeds, with Air New Zealand, Air Canada, Brussels Airlines and Southwest and JetBlue in the US all announcing similar moves recently. BA and Ryanair said they are not reducing aircraft speeds, but have warned passengers that fares will rise above inflation this year in order to cover rising fuel costs.