Driving An EV Now Costs Half As Much As Diesel, New Analysis Shows

Diesel prices in Europe have jumped sharply this year, and a new analysis finds electric vehicle owners are now paying less than half as much per kilometer to charge as diesel drivers pay to fuel up. Diesel drivers are paying about 32 euros more per 50-liter tank than at the start of the year, and roughly half of that increase comes from bigger refinery profit margins rather than the underlying cost of oil. Oil companies have reportedly doubled their profits in Europe over the past quarter.

The analysis, from the group Transport & Environment, argues that electrifying transport is the surest way to avoid getting squeezed by future fuel-price spikes, and it also found that electric trucks are now cheaper to run than diesel trucks for nearly half of the trucks sold in the EU. The group is pushing European governments to avoid broad fuel-tax cuts and instead target help toward lower-income households, funded in part by taxes on oil company profits, alongside programs to help people trade in older, less efficient vehicles.

This is European policy and market news rather than a US homeowner story, but the underlying pattern is one that shows up here too: as gas and diesel prices swing with world events, the cost of driving on electricity tends to stay more stable and, on a per-mile basis, cheaper. If you already have an EV or are weighing one, that price gap is part of the ongoing case for going electric, alongside whatever incentives or rebates your own state or utility currently offers.