Analysis Finds EV Charging Costs Less Than Half of Diesel Fuel in Europe
Diesel drivers are paying €32 more per tank than at the start of the year, according to T&E data.
New data analyzed by the European environmental NGO Transport & Environment (T&E) indicates that electric vehicle drivers in Europe are paying less than half of what diesel drivers are paying for every kilometer driven.
What Happened
The analysis shows that diesel drivers are currently paying €32 more per tank compared to prices at the beginning of the year, with approximately €16 of that increase attributed to extra refinery margins. T&E notes that oil company profits in Europe have doubled in the last quarter as these margins have grown. The cost comparison is based on average consumption of 6.9 liters per 100 km for diesel and 20.2 kWh per 100 km for battery electric vehicles, using an estimated electricity price of €0.343/kWh. T&E describes this electricity price estimate as an upper bound that accounts for the correlation between gas and electricity prices.
Why It Matters
As European leaders meet in Brussels to address the energy crisis, T&E argues that the economic case for electrification has strengthened. The organization recommends accelerating the transition to electric vehicles rather than implementing blanket fuel duty cuts. Instead, T&E suggests targeted support for low-income households and energy firm windfall taxes to fund public transport and scrappage schemes. The group also highlights that electric trucks are cheaper to operate than diesel for almost half of the trucks sold in the EU, a finding released as truck manufacturers call for delays to emissions targets.
The Bottom Line
T&E asserts that electrification is the only way to ensure this is the last oil crisis, warning that a potential US block on diesel exports could lead to a genuine supply shortage with crippling effects for citizens and businesses.
