"With U.S. gas prices above $4 a gallon and diesel topping $5.60, the fueling cost gap between EVs and gas vehicles has widened sharply. A typical EV running on home electricity still costs roughly one-third as much per mile as a comparable gas vehicle - a savings that grows with every ten-cent jump at the pump."
"The Iran war viscerally confirmed energy analysts' argument that American energy independence is crucial. The current energy shock makes the cost-per-mile case for EVs harder to dismiss, especially as gasoline prices continue to rise."
Gas prices have surged past $4 a gallon, driven by the Iran war and the closure of the Strait of Hormuz, causing a historic oil supply disruption. Diesel prices have also risen above $5.60. The federal government has ended the $7,500 clean vehicle tax credit earlier than expected, complicating the decision for potential EV buyers. Despite rising gas prices, EVs offer significant cost savings, with electricity remaining stable and cheaper per mile compared to gasoline vehicles, emphasizing the benefits of energy independence.
Read at Earth911
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