Could Petrol Price Hike Drive EV Sales?

Thu 24th Jun 2021

The cost of filling up at the pump shows no sign of getting cheaper anytime soon, with the highest average prices since October 2018, and now one of the UK’s biggest motoring organisations has said that people might consider switching to electric.

The cost of petrol went up from 128.43p to 130.69p a litre last month, with a huge difference in prices for fuel across the country. One filling station in central London has the audacity of charging customers 163.5p for a litre of petrol, meanwhile drivers in Lancaster can get filled up for 121.9p a litre. That 41.6p difference is £22.88 to fill up an average-size family hatchback.

“Now that many are travelling on staycations, road trips or out and about for work, drivers are beginning to rumble that lockdown was not only a matter of being restricted to their local area but also being locked into higher pump prices,” said Luke Bosdet, the AA's fuel price spokesman

“Holidaymakers heading to big towns in more rural parts of the country are often discovering pump prices that are 4p-a-litre or £2-a-tank cheaper than where they came from, even at the supermarkets. 

“This has turned the current pump price shock into even more of a nasty surprise.

“For those contemplating a post-covid car change, the argument for switching to electric has become very much stronger.”

The cost of charging up an electric vehicle is expected to come down as the infrastructure matures over the next decade, but still EV is nearly 7p cheaper a mile.