The big question: Are electric vehicles really cheaper as petrol prices soar?

Petrol prices are climbing and supply concerns are spreading, pushing many drivers to rethink how they power their cars.

With the cost of filling up rising sharply, interest in electric vehicles is growing across Australia.

But experts say the financial benefits of switching are not always clear-cut.

Fuel crisis impact

Escalating tensions in the Middle East are sending shockwaves through global oil markets, raising fears of sustained fuel price increases.

According to reporting by 7NEWS, some service stations in Australia have already begun rationing petrol as supply tightens.

The situation has triggered a surge of interest in electric vehicles, with motorists wondering whether abandoning petrol could help avoid volatile fuel costs.

Car expert Paul Maric said the recent fuel crisis has prompted many Australians to consider the switch.

Charging reality

However, Maric said running an electric vehicle can still be costly depending on where drivers charge.

“Electricity prices have doubled over the past few years. So it is still expensive to charge an EV if you don’t have the infrastructure at home,” he said.

Public fast-charging stations can be particularly expensive, sometimes costing around 70 cents per kilowatt hour.

That means a full charge may cost more than $40 in some cases.

Home advantage

Charging at home overnight during off-peak electricity periods is typically cheaper, though not everyone has access to that option.

“If you are renting a house or apartment that doesn’t have the infrastructure, you’ll find that it is about as expensive as an internal combustion car prior to these big petrol price hikes,” Maric said.

He also warned buyers to consider other costs when calculating the value of an EV.

“When it comes to time to sell it, you want to just make sure that you factor in all of those things into your sums as opposed to just looking at the purchase price,” he said.

Sources: 7NEWS

This article is made and published by Mikkel Christensen, who may have used AI in the preparation