The UK’s electric cars are reducing its exposure to oil shocks

The UK’s electric cars displaced an estimated $790 million worth of crude oil between March and August, according to new analysis from energy thinktank Ember.

That gives the switch from petrol and diesel a practical benefit beyond cutting emissions: less exposure to oil prices and supply disruptions. Across oil-importing countries, electric car fleets displaced an estimated $20 billion of crude during those six months.

The figures are estimates, calculated from fleet oil displacement and monthly Brent prices. They describe avoided oil demand, rather than money paid directly into drivers’ pockets, and include plug-in hybrids alongside fully electric cars.

For households, the charging arrangement matters. The RAC explains that home charging is generally much cheaper than petrol or diesel, while public charging brings costs closer together. Smart chargers can use cheaper overnight tariffs.

Not everyone has a driveway or an affordable charging option. But the growing fleet is already doing useful work: replacing journeys that would otherwise depend on oil.

Sources

• Ember — Electric energy security
• RAC — Electric car charging and costs