The AA’s EV Recharge Report for May 2025 found that electric vehicle (EV) drivers are enjoying protection from oil price fluctuations. It calculated that the “EV advantage” over petrol was at least 5.5p/mile for domestic charging and 1.4p/mile for off-peak ultra charges.
At the same time, the Iran-Israel conflict has driven up pump prices. Petrol prices fell towards a four-year low of 132p per litre in May, bottoming out in early June. But that trend is starting to reverse as the impact of the Iran-Israel conflict starts to be reflected in the price of petrol – the past week has seen average prices at forecourts rise by about 2p per litre.
According to the AA report, in May, fast and rapid charging prices held or fell across the public charging network. The motoring organisation suggested that prices might fall further when the energy price cap falls on 1 July.
Jack Cousens, head of roads policy for the AA, said: “With the potential for fuel prices to rise in the short term, EV drivers are protected from daily oil price fluctuations. The price of electricity should be cheaper, yet electric vehicle owners benefit greatly from a commodity that offers better stability and uniformity.
“The 2p cut in ultra-rapid charging is a good start ahead of the summer holidays, but more needs to be done to bring down the cost of charging on the public network. The planned reduction to the energy price cap will help drivers charging on their driveway, but the cost in wholesale energy needs to be felt when charging away from home.
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“Similarly, there needs to be a targeted effort to help more drivers make the switch to EVs if the only stumbling block is the initial purchase price. At the moment, company car drivers and those with access to salary sacrifice schemes are propping up the new EV market. Ultimately, the more new EV sales that can be made leads to a strong used car market, where most UK car sales are made.”
