Do surging fuel prices mean it’s time for an electric vehicle?

Do surging fuel prices mean it’s time for an electric vehicle? 

Due to the rising expense of fuel, drivers are shunning diesel and gasoline vehicles more and more in favour of electric ones.

In June, the average cost to fill a standard petrol tank was close to £100.27, while the average cost to fill a typical diesel tank is close to £103.43. Despite recent increases in electricity prices, battery-powered automobiles seem far less expensive to operate.

Compared to their petrol or diesel counterparts, electric cars are more expensive to purchase, have shorter ranges, and require more time to refuel. But are the scales beginning to tip in their favour now that the cost-of-living crisis is exerting pressure on household finances?

Due to the high cost of lithium-ion batteries, electric vehicles are generally more expensive than their diesel or gasoline counterparts. However, battery sizes have shrunk over time, lowering the cost in general.

The time it takes to pay for the difference between an EV and a petrol automobile has decreased significantly because of this and rising fuel prices. Reports suggest you can save at least £600 a year by choosing the electric equivalent to your petrol or diesel vehicle.

Just remember, the cost is not everything when it comes to your vehicle - you may simply prefer a patrol car due to the way it drives and its style. FLEXXILease offers short-term personal and business vehicle leases so you can test out what works for you. Contact us now to find out more.