Rising UK diesel prices drive economic case for electric vehicles

Rising diesel prices in the UK are enhancing the economic argument for electric vehicle adoption across the transport sector. New AutoMotive reports that surging diesel costs have added approximately £35 million weekly to UK hauliers’ fuel expenses, with average forecourt prices reaching 199.9p per litre in late September.

Welch Group, a UK haulier, is leveraging this trend by expanding its electric heavy goods vehicle (HGV) fleet. The company’s internal modeling suggests that by 2035, expanding its electric fleet and opening its charging infrastructure to other operators could result in annual operating savings of approximately £792,000 compared to a diesel fleet.

For passenger transport, ChargeUK analysis indicates that electric taxis using a mix of 80% standard and 20% rapid public charging can achieve running costs of 16.43p per mile. This is lower than the 18.58p per mile for petrol and 18.33p for diesel. However, the study notes that exclusive use of rapid or ultra-rapid charging—averaging 79p per kWh—raises costs to 22.01p per mile, exceeding fossil fuel benchmarks.