While gasoline prices have come down from their highs earlier this summer, drivers are still feeling plenty of pain at the pump. Unless, of course, you’re an electric vehicle owner, and thus feeling very smug while gliding past fueling stations to charge at home.
This is remarkable. It highlights the growing capability of the latest EV models, and also has implications for what happens to oil demand from road transport. The amount of oil displaced by EVs depends on how fast we switch over the number of kilometers or miles traveled to electric, not the number of cars.
A few other things stand out in the data. One is that you can actually see the point when the Tesla Model S, the first real long-range EV, hits the market. Average distance traveled per EV jumped sharply in 2013 and 2014 — right after the Model S launched — then climbed several more years and is now at an all-time high.
And now for some perspective.
One of the richest countries in the world… go figure
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