Recent global events have led to noticeable increases in fuel and energy prices. While these changes affect all drivers to some extent, they also highlight a key difference between petrol and electric vehicles: how exposed they are to global energy markets.

This article looks at how different types of vehicles respond to the same external pressures, based on current data and real-world cost changes.

What’s driving the rise in prices?

Oil and gas prices are set on global markets, which means events anywhere in the world can have a direct impact on UK drivers.

Recent disruptions have already pushed prices up:

• Oil prices have risen by around 35% in a short period (Institute for Fiscal Studies)
• Wholesale gas prices have increased by as much as 67% (Institute for Fiscal Studies)
• Petrol prices in the UK have climbed to around 136–137p per litre, with diesel even higher (Right Fuel Card)
• Filling a typical family car now costs several pounds more than it did just weeks ago (The Independent)

Because petrol and diesel rely directly on crude oil, these increases tend to feed through quickly to drivers.

Why EV drivers are less exposed

Electric vehicles are not completely immune to energy price changes, but they are affected in a different way.

The key difference is: petrol cars rely on oil, EVs rely on electricity.

Electricity prices can rise, but they are influenced by a wider mix of sources including renewables, nuclear, and domestic energy production. This spreads risk in a way that oil-based fuels cannot.

There are also mechanisms in place that can soften short-term shocks. For example, UK energy price caps can limit how quickly electricity costs rise for households.

The cost gap becomes more visible when fuel prices rise

When petrol prices increase, the running cost difference between EVs and petrol cars tends to widen.

Current estimates show:

• EVs are already around £870 per year cheaper to run than petrol cars on average (Energy & Climate Intelligence Unit)
• If oil prices remain high, that saving could exceed £1,000 per year (Energy & Climate Intelligence Unit)
• In Europe, monthly fuel costs for petrol cars are roughly double those of EVs in high oil price conditions (T&E)

As fuel prices rise, these differences become more noticeable for drivers who cover regular mileage.

Stability vs volatility

One of the less obvious benefits of EVs is pricing stability.

Petrol prices can change quickly because they are tied to global oil markets and supply routes. Even short-term disruptions can lead to noticeable price increases at the pump within days or weeks.

Electricity prices, while still affected by global events, tend to move more gradually. This makes the day-to-day cost of driving an EV more predictable for many users.

It’s not one-sided

It’s important to be clear that rising energy prices don’t benefit anyone outright.

• Electricity costs may also increase over time
• Public charging can be more expensive than home charging in some cases
• Both petrol and EV drivers can feel the impact of wider energy market shifts

However, the difference lies in how strongly each type of vehicle is affected. Periods of rising fuel costs often highlight something that’s always been true but less visible when prices are low. When oil prices rise sharply, that difference becomes clearer.

Final thoughts

Rising fuel and energy prices are a challenge for drivers across the board. But they also underline a key advantage of electric vehicles: lower exposure to oil price volatility.

For drivers, the difference shows up in day-to-day costs, how predictable those costs are, and how much global events can shift what they pay to get from A to B.