Gas Price Jump Is Chance For EV Sales
The EV buying argument has always been partially predicated on the cost of gas. It is part of what EV companies call the “savings of ownership.” Gas prices are back on the rise again. If this persists, EV firms can reassert their advantage.
*Where Gas Prices Are Heading
*Insurance Rates For Gas Powered Cars
According to GasBuddy, “Oil prices have surged to nearly $74 per barrel, the highest level in months, driven by optimism that China’s recent economic policy shifts could boost oil demand, resulting in one of the largest weekly climbs in U.S. gas prices in months,” said Patrick De Haan, head of petroleum analysis. Not long ago, crude was below $68. The price is more likely to go to $80 than $65. Domestic oil production is also down slightly.
The price of an average gallon of regular nationwide is $3.03. It had dropped below $3. While this is not close to $5 as it was two and a half years ago, there is a price point at which consumers without access to cheap gas begin to look at EVs.
China Government Leverage
China’s government has pulled out all the stops to get its economy back on track. Unlike the US, the Chinese leadership has great discretion regarding how it treats its money and debt systems. Gas is likely to go up.
More from ClimateCrisis 247
- AI Threatens To Destroy Electric Grids Worldwide
- The Coming Electricity Wars
- Parts Of Global Wind Industry Could Be Destroyed
- Green America To Be Hit By Tariffs
