Online searches for electric and hybrid cars increase as war-linked fuel prices hit highest levels in nearly three years
US car buyers are showing a surge in interest in electric vehicles after Donald Trump’s decision to attack Iran helped cause a major jump in gasoline prices.
The cost to refuel a vehicle in the US is at its highest level in nearly three years, with the average national price of gas standing at $3.90 a gallon on Friday.
This increase has been driven by the rising global cost of oil in the wake of the US and Israel’s bombing of Iran, a major oil producer. The conflict has resulted in the strait of Hormuz, a vital waterway that conveys around a fifth of the world’s oil, being shut off by Iran.
Its hilarious how short sighted the US car market is.
When gas prices also spiked around 2008, the Toyota Prius hit sales records year after year. Then as soon as gas dropped, Prius sales also immediately dropped, while SUV sales began to climb to records again.
Its like nobody realizes gas will ALWAYS keep going up, and it will always find a floor price above where it was before…
I can’t afford any of that shit though, so I’m scrabbling together parts to build a moped out of an old bicycle.
Yeah no sympathy here (for America, not for you)… you’re exactly right, the writing has been on the wall for so long.
Enjoy filling up your daily commuter F-350 with duallies. Stupidity and/or ignorance and/or complacency has a price.
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It will always go up in nominal terms. That’s true of everything, due to inflation. It’s not always true in real terms, adjusted for inflation.
I’m actually stocking up on popcorn to watch the price of gas over the next decade as most of the world transitions to EVs
The thing is, as companies adjust to changing demand, supply will be out of balance. We’re in for a wild ride as price stability is the first thing to go.
Will people still not see it as it happens? They’ll see the low prices and buy ever larger trucks, then another refinery closes and prices will be high. Surprise!