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Is EV charging more cost-effective than petrol? YES!

Electric vehicle drivers are benefiting from stable public charging costs amid soaring petrol and diesel prices, according to the AA's August 2023 EV Recharge Report. While petrol prices have surged by 4.25% since July, EV charging costs have remained unchanged. Those charging at home have experienced a 3p/kWh decrease in average peak charging expenses, while off-peak costs have increased by 5p. In other charging categories, costs have not only remained static but have also dropped by 1p/kWh, especially for the fastest recharging speed.

Moreover, ultra-rapid charging has become more cost-effective per mile than petrol. Last month, the pence-per-mile cost for a typical small petrol car was 13.85p, but this month it has risen to 14.44p. This cost now exceeds that of peak (14.38p) and off-peak charging (12.58p) at ultra-rapid facilities, although flat-rate ultra-rapid charging is higher at 15.96p.

Jack Cousens, head of roads policy at the AA, pointed out that the stability in electricity prices highlights the advantages of EVs compared to the volatile pricing of traditional fuels. He emphasized the consistency in charging costs across different locations, contrasting it with the fluctuating fuel prices experienced by drivers. As more individuals and businesses transition to electric vehicles, this trend may lead many to question why charge point companies can maintain consistent costs across the UK while the fuel industry cannot.

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