Electric cars look tempting as gas prices skyrocket from the Iran war. Should you switch to an EV or wait it out?
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The Iran war has led to a surge in gas prices, making electric vehicles (EVs) more appealing to consumers. With the average price of gas over $4 a gallon, some car owners are considering switching to EVs to save money and gain energy independence.
The Iran war has caused gas prices to skyrocket, with the average price reaching over $4 a gallon. This has led to a 28% jump in inquiries about buying new EVs and a 15% jump in inquiries about used EVs. The war has damaged oil and gas infrastructure, which could lead to long-term price volatility. EVs could provide cost savings and energy independence, with an analysis finding that gas-powered cars are five times more affected by energy crises than EVs. The average transaction price for a new EV is around $55,300, compared to $49,353 for a gas-powered car. Despite the high upfront cost, EVs could be a viable option for those looking to save money in the long run.
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