Drivers warned EVs may be more expensive than petrol and diesel cars

GB News guests debate using electric cars

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Motorists who are planning on purchasing electric cars in the future might need to think twice about their running costs. While drivers have been previously encouraged to buy an EV to save money, that might not be the case anymore.

With the recent announcement regarding the increased energy price cap, fears surrounding the cost of living have naturally risen.

While the price of electricity has gone up, drivers have also seen dramatic rises in the cost of fuel over the course of the year.

With that in mind, Express.co.uk has asked an expert how financially sustainable electric vehicles will be and whether opting for a petrol or diesel equivalent would be more economically friendly.

Tom Hixon, Head of Instructor Support from Bill Plant Driving School, said: “Much like their fuel counterparts, electric vehicles vary in terms of mileage economy and battery size; therefore, some need charging more often than others.

“This, in turn, will lead to an increase in costs regardless of the charging location.

“It can help to research local charging points, some companies and supermarkets offer free charging for paying customers.”

Mr Hixon continued: ”It is difficult to determine the future of electric vehicles, especially during unprecedented times relating to both fuel and electricity prices.

“With encouragement from Governments for consumers to move to EVs, we can assume that they will remain the future of motoring.

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“However, we hope that alongside this encouragement, support for any continued rising costs will be provided.”

At the end of August, Ofgem announced that the energy price cap will increase to £3,549 per year for dual fuel for an average household from October 1, 2022.

This came as Ofgem’s CEO warned of the hardship energy prices will cause this winter and urged Lizz Truss and her new cabinet to provide an additional and urgent response to continued surging energy prices.

The increase reflects the continued rise in global wholesale gas prices, which began to surge as the world unlocked from the Covid pandemic and have been driven even higher to record levels by Russia slowly switching off gas supplies to Europe.

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Jonathan Brearley, CEO of Ofgem, said: “We know the massive impact this price cap increase will have on households across Britain and the difficult decisions consumers will now have to make.

“I talk to customers regularly and I know that today’s news will be very worrying for many.

“The price of energy has reached record levels driven by an aggressive economic act by the Russian state.

“They have slowly and deliberately turned off the gas supplies to Europe causing harm to our households, businesses and wider economy.

“Ofgem has no choice but to reflect these cost increases in the price cap.

“The Government support package is delivering help right now, but it’s clear the new Prime Minister will need to act further to tackle the impact of the price rises that are coming in October and next year.

“We are working with ministers, consumer groups and industry on a set of options for the incoming Prime Minister that will require urgent action.

“The response will need to match the scale of the crisis we have before us. With the right support in place and with regulator, Government, industry and consumers working together, we can find a way through this.”

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