If you have been to the pumps recently, you will have noticed gas prices going through the roof. Whether you are in the United States, the United Kingdom, or another country, it’s clear that fuel prices are rising. And it seems to be making electric cars more and more attractive.
The UK and the USA seem to be two countries in particular that are feeling the effects of this. And it appears that in Britain, it now costs six times as much to pay for fuel as it does to drive an EV over a 1,000-mile period.
This puts a lot of strain on drivers’ bank accounts. Many of us have to drive for work, or have weekends away planned, and we don’t want to stop living our lives because of fuel. But many are feeling the pinch and struggling to prioritize what to do.
However, the fact that gas prices are so high is a potentially good sign for EVs. Because it might be enough to sway EV skeptics and make them realize that, actually, getting an electric car is the way forward. Yes, you might have to wait longer to recharge on a long journey. But you might also save a lot of money.
How High Have Gas Prices Risen?
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Carwow did much of the comparison of prices between gasoline and electric vehicles, and the results they found were quite remarkable. With a diesel BMW 320d, they estimated the cost at £181/$239 per 1,000 miles in the UK. However, compared to the electric BYD Seal, the price was just £29/$38 to keep the EV going per 1,000 miles.
That is a remarkable statistic, and it makes the diesel BMW six times more expensive than the BYD Seal, and indeed any other electric car. It is a staggering statistic, and it highlights just how expensive fuel has become over the last few months. But it isn’t just charging at home that can save money. Carwow also stated that public chargers can work out cheaper than refilling with gasoline.
Carwow’s News Editor Jamie Edkins said: “Charging an EV with no home charger isn’t the most convenient thing in the world […] but with a little bit of planning it’s certainly doable and it could also save you hundreds of pounds a year.” Diesel in particular has borne the brunt of the price increases, but regular gasoline has also seen huge price increases. It’s put many motorists in a fix, forcing them to prioritize certain journeys and budget even more than before.
How Bad Are Fuel Prices in America?
In America, the situation is much the same as it is in the UK. Al Jazeera reported that the average price for a gallon (3.79 litres) is $4.36, up from $4.14 a month ago. That is up from $2.98 on February 28, the date that America and Israel started strikes against Iran.
Much of the rise in prices can be blamed on the conflict in Iran and the current blockade around the Straight of Hormuz.
Until the situation eases, things could get worse before they can get better.