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

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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. The reason is that, in the United States, oil is used to generate less than 1% of electricity.

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Rhodium Group estimates US GHG emissions rose 1.3% in 2022

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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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EIA expects global consumption of liquid fuels to surpass 2019 levels in 2022

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million barrels per day (b/d) for all of 2020, down by 8.6 US regular gasoline retail prices averaged $2.78 In June, monthly retail gasoline prices averaged $3.06/gal, EIA forecasts regular-grade gasoline prices to average $2.92/gal gal for all of 2022. gal for all of 2022. Electricity.

2019 243
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Lux Research: despite cheap oil, niche plug-in vehicle sales will be resilient; conventional hybrids to be hardest hit

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The current plunge in oil prices will likely negatively affect plug-in and hybrid vehicle sales in the short term; automakers such as BMW are already warning of lower sales of plug-in vehicles given the market context. Anticipated price of oil and forecast plug-in sales. Lux on the price of oil.

Plug-in 150
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EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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Among the more detailed transportation projections in AEO2014 are: LDVs powered by gasoline remain the dominant vehicle type in the AEO2014 Reference case, retaining a 78% share of new LDV sales in 2040, down from their 82% share in 2012. quadrillion Btu in AEO2013, and represents the largest growth among all transportation modes.

Oil 290
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EIA expects US motor fuel consumption to increase this summer, but remain below 2019 levels

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EIA also forecasts the Brent crude oil price will average $64 per barrel this summer, a 78% increase from last summer’s average of $36 per barrel. That price increase paired with an increase in gasoline and diesel demand will likely increase the cost of regular gasoline and diesel fuel this summer. gal on 22 March.

2019 186
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Indianapolis plans to add 425 PHEVs and BEVs to municipal fleet by 2016

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The City of Indianapolis will upgrade 425 non-police-pursuit sedans in its muncipal fleet to plug-in hybrid and battery electric vehicles by early 2016, cut the size of the fleet by 100 vehicles, and save $8.7 America’s dependence on oil ties our national and economic security to a highly-unpredictable, cartel-influenced global oil market.