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Large differences among the recent increases in the cost of powering gasoline, diesel, and electric vehicles

Green Car Congress

This post examines the recent changes in the costs of powering gasoline, diesel, and electric vehicles. The expectation was that the cost of electricity had recently increased much less than the costs of gasoline and diesel. Gasoline vs. diesel changes are now possible to calculate already for May.

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil.

Oil 418
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Rhodium Group estimates US GHG emissions rose 1.3% in 2022

Green Car Congress

Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.

Emissions 273
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Navigant forecasts global natural gas fleet of 34.9M by 2020

Green Car Congress

The increase is largely driven due to a combination of low-cost natural gas and sustained higher prices for gasoline and diesel in many countries, Navigant suggests. The differential in the cost of the fuels determines the payback on this additional equipment (currently between 2.5 and 6 years, depending on the vehicle).

2020 321
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Ironic Today Show segment explains tips for gas mileage while anchor sits in electric vehicle

Teslarati

However, the piece had one massive mistake: the tips were demonstrated from the cabin of a Ford Mustang Mach-E, an all-electric vehicle that requires no gasoline to travel. Gas prices have skyrocketed over the past few weeks due to the emerging crisis between Russia and Ukraine.

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Heat Pumps Go North

Cars That Think

So they found that emissions reductions are highest when replacing a fuel oil heating system. But bottom line, what they found is if replacing fuel oil or propane for those homes, 87 to 100 percent of those homes would see a reduction in their energy bill. That percentage is smaller for natural gas and electric resistance heating.

Climate 70