Pain from the pump: Tumbling Gas Prices Threaten Sales of electric vehicles

Low gas prices, exemplified by Oklahoma City’s $2.40 per gallon rate, spell trouble for the electric vehicle market. And, as Douglas McIntyre reports, gas prices are already under $3 in most states, reducing incentives for consumers to switch to electric vehicles. In addition the potential elimination of the $7,500 federal EV tax credit under the incoming Trump administration could worsen the situation, all of which comes as the EV industry is already grappling with public concerns over range limitations, slow charging times, rapid tire wear and battery inefficiencies in cold weather.