​Petrol prices rise to two-year high

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​Petrol prices rise to two-year high

There are many reasons that one might make the change to an electric vehicle. Environmental benefits, low maintenance and reduced noise pollution are just some of the reasons. However, the low running costs of EVs remain one of the strongest draws.

EV running costs

EVs remain far cheaper than a petrol or diesel vehicle, with running costs as little as 2p per mile compared to around 12p per mile for a typical petrol or diesel car. This significant gap is continuing to grow with petrol prices now reaching a two-year high.

Fuel price rise

According to the latest Fuel Watch data by the RAC, rising fuel prices mean that refilling a petrol car is costing £8 more than a year ago. For diesel customers it is now on average £10 more.

Government figures released by the Department for Business, Energy and Industrial Strategy show that the price of one litre of petrol reached an average of £1.18 and £1.21 for diesel drivers.

The dramatic increase is a result of a 24 per cent rise in the cost of oil. In mid-November, the cost per barrel was £37 but by the end of December this had risen to £46. The rise has been largely driven by a deal between OPEC and other major oil producers to curb output.

Electric charging

The opposite of the above can be said for electric charging as prices remain stable. The government is also making efforts to create a common standard for pricing between suppliers. This change could include creating a cap on the maximum charge.

With the number of reasons to switch to an electric vehicle growing and strengthening, you can test and hire an electric vehicle from Green Motion, world leaders in the provision of low C02, hybrid and plug-in vehicles for both business and leisure clients.

To find out more about the range of vehicles we have on offer for hire at your nearest branch, call 0333 888 4000 today. 

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