MANY MINDEDUK EVs cost 2.3p per mile versus £1.72 per litre petrol
In the UK, electric vehicles cost 2.3p per mile when charged with off-peak electricity tariffs—nearly nine times cheaper than petrol or diesel per mile. Petrol prices hit £1.72 per litre in September 2026 (a 31% rise since February 2026), while diesel reached £1.96 per litre (38% higher since February 2026). This pricing gap makes EVs financially viable for households: drivers save £80 annually by charging at home versus filling a petrol car, and electric vehicle owners save £1,200 yearly in fuel costs compared to petrol cars. Adoption is growing rapidly, with 30% of new cars sold in August 2026 being battery electric vehicles—up from 26.5% in August 2025. Home charging accounts for 90% of UK EV usage, supporting this shift.
The affordability stems from stable off-peak electricity pricing and the UK’s low EV ownership rate (6% of registered vehicles). While 3% of new cars are plug-in hybrids, the cost advantage for EVs is clear: households save significantly on fuel while avoiding volatile oil prices, which surged past $100 per barrel in September 2026 due to regional conflicts.
This moves abundance for mobility and sustenance by making clean transport accessible to most UK households. As EVs become the cheaper option for daily driving, the financial barrier to switching collapses. However, the pay-per-mile tax starting April 2028 could add 3p per mile to EV costs, and electricity price caps may rise by 20% in early 2027. These factors mean the current affordability is temporary—monitoring the tax rollout and energy pricing adjustments will determine whether this shift becomes permanent or reverses.
Source: Carbon Brief