Driving down the cost

EXCERPT

One of the big advantages of owning an electric car is the vastly reduced fuel costs. The cost of driving a mile in an electric car is around a quarter of the cost of driving the same distance in a petrol or diesel car. The average UK household spends £37 a week at the pump, and therefore stands to save significant amounts of money on car fuel from switching to an electric car.

The speed of the UK’s transition to electric cars will determine how soon motorists will start accessing these savings. The UK government has committed to ban the sale of petrol, diesel and hybrid cars, and is currently deciding whether the ban should come into force in 2030, 2032 or 2035. The earlier this ban, the sooner motorists will start saving money on fuel, meaning that an earlier ban will incur net fuel savings to motorists, and a ban coming into force in 2030 could save as much as £77 billion for UK motorists over the next two decades.