‘National fuel crisis’ as electric car ownership rises Business

Some drivers take drastic measures. Battery cars accounted for one in eight new models last month, up from one in 10 in April.

The number of electric models purchased last month jumped to 15,448, a 20% jump from the previous month. This is a 17.7% increase from the same month in 2021.

The rise of electric vehicles is accelerating as automakers battle supply shortages and ration parts, favoring electric cars. Auto dealers reported their worst May deals in three decades, except for the same month in 2020 when showrooms were forced to close.

Overall car sales fell 20.6%, or 32,000, in May to 124,000 from figures for the same month a year earlier revealed by the Society of Motor Manufacturers and Traders (SMMT).

Mr Williams said he expected fuel prices to worsen, with the average liter of petrol expected to climb above 180p this week and diesel closer to 190p.

Brent crude hit $120 a barrel Monday morning amid doubts that increased production targets among major producers will help ease tight supply.

Limited refining capacity adds pressure on refined product prices, while currency exchange rates also play a role as refined fuel is sold in US dollars.

Ireland, which lacks refining capacity, is considering ordering people to work from home under coronavirus-like contingency plans.

The Irish government has discussed limiting car travel, reducing the speed limit on motorways and fuel rationing, as well as a stay-at-home order for non-essential workers.

Dublin lifted work-from-home rules in January this year, but the government and state agencies discussed reinstating the rule during a contingency planning exercise.

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This notice was published: 2022-06-06 15:54:49

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