Octopus Electric Vehicles has reported a 36% rise in EV leasing enquiries since the start of the conflict in the Middle East, indicating that soaring fuel prices are driving UK motorists towards electric vehicles.
With global oil and gas markets in flux, petrol prices have climbed to £1.48 per litre and diesel to £1.73 per litre – some of the highest levels seen in over a year.
The rise at the pumps is prompting drivers to rethink their reliance on fossil fuels, swapping volatile fuel costs for the stability and savings of electric miles.
Unlike petrol and diesel, electricity can offer stable, predictable costs, especially when paired with renewable energy or fixed tariffs.
On Octopus’s Intelligent Octopus Go EV tariff, drivers can save hundreds of pounds a year compared to running a petrol or diesel vehicle, thanks to smart charging at greener, cheaper times.
The surge in EV interest also reflects a broader change in consumer behaviour. Electric vehicles now make up around one in four new car sales in the UK.
As energy markets remain volatile, Octopus expects demand for EVs to keep growing, helping drivers protect themselves from unpredictable fuel costs and take control of their energy use.
Gurjeet Grewal, CEO of Octopus Electric Vehicles, said:
“Drivers are feeling the pinch every time they fill up their tank. We’re seeing a real shift – people want certainty over their bills. Leasing an electric car gives drivers a simple, affordable way to break free from unpredictable fuel prices.”
The trend doesn’t stop at cars. Last week, Octopus Electric Vehicles’ sister company Octopus Energy reported a 27% jump in solar enquiries in the early days of the conflict in the Middle East, as homeowners look to take control of their energy bills.
Image courtesy of Octopus Electric Vehicles.
