As EU Environment Ministers meet to discuss electric vehicle targets, new research shows EVs are the best way to protect drivers from oil shocks.
Driving energy security: how electric cars cut oil dependence
As the Middle East conflict sends energy prices surging, new analysis finds electric cars can significantly protect the EU economy and drivers.
• The EU spent €67 bn on oil imports for cars last year
• Accelerating the roll-out of EVs would cut oil imports by €45bn over the next decade
Petrol car drivers can expect to be hit far harder by price rises related to the Iran conflict than electric vehicle drivers, new analysis finds. With oil prices surpassing $100 a barrel, the additional cost of fueling a petrol car is expected to be five times the extra cost of charging an electric car, according to T&E. Electric vehicles will be top of the agenda for EU Environment Ministers meeting in Brussels today when they will discuss a proposal to weaken climate targets for carmakers in the EU Automotive Package.
T&E analysed the likely impact on petrol prices and found that fuelling the average petrol car would cost €14.20 per 100km, a rise of €3.80 due to the conflict. The average cost of charging an EV would be €6.50 per 100km – an increase of €0.70 because of higher electricity prices due to more expensive gas. [1] For company cars, which drive high mileage, the impact will be even greater: an extra €89 per month for every petrol car in a company’s fleet. EV company cars would cost just €16 extra per month to charge. (....)