T&E: Oil Shock Makes Petrol Costs 5× EV Costs
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- T&E analysed the impact of the Iran conflict on fuel costs, finding that fueling an average petrol car will cost €14.20 per 100 km, a €3.80 increase due to the conflict.
- T&E calculated that charging an electric vehicle will cost €6.50 per 100 km, a €0.70 increase from higher electricity prices.
- EU imported 1 billion barrels of oil for cars in 2025, spending €67 billion, while the 8 million EVs already on European roads saved 46 million barrels worth €2.9 billion.
- EU Commission’s proposed Automotive Package would cut oil imports by €45 billion over the next decade if it keeps current CO₂ targets, but weakening those targets would delay EV uptake.
- Lucien Mathieu warned that petrol drivers will face an extra €89 per month per company car, whereas EV company cars would incur only €16 extra per month.
- Friedrich Merz and Giorgia Meloni are pushing to weaken CO₂ standards and oppose the fleet‑electrification targets, which T&E says would prolong oil dependence.
- EU Environment Ministers are set to discuss the proposal to weaken 2030 and 2035 CO₂ targets for carmakers at their Brussels meeting.
Why it matters: Petrol drivers and company fleets will bear substantially higher monthly fuel costs, while EV owners avoid most of the price shock; EU policy choices on CO₂ targets and fleet electrification will determine whether Europe curtails €45 billion of oil imports or remains locked into costly oil dependence.
