The oil crisis is making drivers realize they can't afford not to drive electric
Electrek • • business
Key Points:
- The national average gas price reached $4.09 per gallon in 2026, a 33% increase from the previous year, driven by ongoing oil crises including geopolitical conflicts and supply disruptions.
- Interest in electric vehicles (EVs) surged, with EV research activity hitting 23.8% of all car shopper searches and a 17% weekly increase in EV online searches as gas prices spiked.
- EVs offer significant cost savings: monthly fuel costs for an average driver are $144 for gas versus $52 for electricity, translating to over $1,100 annual savings on fuel alone, with even greater savings for truck owners.
- When factoring in lower maintenance costs and affordable lease or purchase options for new and used EVs, drivers can save approximately $300 to $400 per month compared to owning a gas car.
- EV adoption reduces dependence on volatile global oil markets, helping to insulate consumers from future price shocks and geopolitical risks, with global EVs already cutting oil demand by 1.7 million barrels per day in 2025.
