The latest surge in fossil-fuel prices means it is now up to nine times cheaper in the UK to drive an electric vehicle (EV) than a petrol or diesel car, shows Carbon Brief analysis.
Since February, when the US first attacked Iran, the average price of diesel has increased by 38% to £1.96 a litre, according to Carbon Brief analysis of government figures.
Following the attack on the Kapotnya oil refinery in Russia on 20 September and with tensions in the Middle East growing, this is expected to pass a record £2 a litre.
(Russia was the second-largest exporter of diesel in the world, but its refineries have been hit every three days on average in the first six months of 2026.)
Similarly, petrol prices have surged by 31% since February to £1.72, based on government figures, with some locations reaching nearly £2 per litre, according to BBC News.
These increases have been driven by oil prices jumping to more than $100 per barrel as the conflict between Yemen’s Houthis and Saudi Arabia escalates – a roughly 50% increase from June.
As such, it now costs an estimated 21p per mile to drive a diesel car and 20.1p per mile for petrol, according to Carbon Brief analysis of the latest figures from the Department of Energy Security and Net Zero (DESNZ).
In contrast, it is currently nine times cheaper to drive an EV charged using an off-peak tariff, at 2.3p per mile, as shown in the chart below.
Even if charging with electricity bought at the domestic price cap – the maximum amount a supplier can charge for a unit of energy and standing charge, set by the regulator Ofgem every three months – it still only costs around 7p per mile to drive an EV, three times cheaper than the price for petrol or diesel cars.
The price cap is set to increase in October, but almost all of the increase is for gas, with the unit rate of electricity only expected to rise by less than 1% from 26.1p per unit to 26.3p.
A larger 20% increase in electricity unit rates under the price cap is expected in January 2027, as higher gas costs filter through to an increase in wholesale electricity prices. Nevertheless, EVs would still remain far cheaper to drive than petrol or diesel cars.
UK drivers could save around £80 by charging an EV at home, in comparison with filling up a petrol car at the pump, as shown in the figure below. This is based on comparing the cost of an average full tank of petrol with the cost of enough electricity to drive the same distance.
Despite their much higher running costs, petrol still dominates the UK’s roads, making up 55% of all cars on the road. Only 6% of the roughly 35m cars on the road are fully electric battery EVs, with a further 3% being plug-in hybrids that can run on fuel or electricity.
However, sales of EVs are continuing to increase, with around 30% of new cars sold in August being battery EVs, according to the Society of Motor Manufacturers & Traders (SMMT). This is up from 26.5% in August 2025.
Separate analysis from Carbon Brief in June suggested that the UK’s EV drivers were saving £1,100 a year in fuel costs, compared to petrol car drivers. Following the latest hike in fuel prices, these savings would now be even higher at £1,200 a year.
Compared with average pump prices of £1.72 per litre of petrol or £1.96 per litre of diesel, it would cost as little as 20p – around nine times cheaper than petrol – for an equivalent amount of electricity using off-peak charging.
As shown in the figure below, even charging at the household price cap would only cost the equivalent of 60p per litre, making EVs still significantly cheaper to drive.
Public charging points remain significantly more expensive than domestic rates. However, the UK government estimates that around 90% of electric car charging takes place at home.
In addition, the government plans to introduce a pay-per-mile tax on EVs from April 2028. This would add 3p per mile to the cost of driving an EV. Yet the considerably lower fuel costs mean they will remain far cheaper to drive than petrol or diesel cars.
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The post Analysis: EVs are now nine times cheaper than petrol or diesel to drive in the UK appeared first on Carbon Brief.
Analysis: EVs are now nine times cheaper than petrol or diesel to drive in the UK
More than a dozen countries, including Germany, South Korea, Pakistan and several small island states, have publicly backed the Turkish COP31 presidency’s flagship electrification pledge.
The voluntary pledge aims to raise electricity’s share of global final energy consumption to 35% by 2035, from 23% currently, but does not specify how that electricity should be generated.
The COP31 presidency is not expected to publish a full list of backers until next week, as it continues to rally support. But at least 14 countries have publicly endorsed the pledge, according to a Climate Home News analysis of speeches and official statements.
Alongside COP31 co-host Australia and COP32 host Ethiopia, they include Germany, Norway, Finland, South Korea, Pakistan, Zimbabwe, Eswatini, Togo and Liechtenstein, as well as the small island states of Palau, Seychelles and the Solomon Islands.
The European Union is widely expected to join the pledge this week, although member states still need to formally approve the decision, Politico reported. On Wednesday, President Ursula von der Leyen supported the pledge in her personal capacity and encouraged others to do the same.
Major economies still on the fence
Other major economies have welcomed COP31’s focus on electrification while stopping short of endorsing the pledge.
British Prime Minister Andy Burham said on Thursday that he was proud to support the summit’s focus on electrification. He said it matters for energy security, for creating good jobs in clean energy and manufacturing, and for lowering people’s bills.
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Big fossil-fuel countries back Brazil-led transition roadmap
Some countries including Germany and the Netherlands call for the roadmaps to inform a key global review of climate progress in 2028 -
COP31 outcome needs to prioritise transition away from fossil fuels
Many countries are already working on parts of their transition, such as phasing out coal or ending fossil fuel subsidies, with more expected to follow soon
Brazil’s environment minister João Paulo Capobianco ssaid on Thursday that electrification was “an important front” in climate action, but warned it should not be pursued “for the sake of it”. It should instead serve as a means of improving efficiency and cutting emissions. He said Brazil would work with the Turkish proposal and suggest adjustments to allow “specific solutions” that reduce emissions, without giving details.
Saudi Arabia was more openly sceptical. Energy minister Prince Abdulaziz bin Salman told the leaders’ summit that emissions reduction is “what unites us”, “not necessarily the track to achieving it”. “The expansion of electrification does not necessarily mean cutting emissions, so long as we do not consider the sources of its production,” he said, adding that countries’ choices must be respected.
Clean power strings attached
Many of the nations formally backing the initiative have attached some strings to their support. At a high-level roundtable on Wednesday, the low-lying Pacific island nation of Palau said it would sign on to the pledge. But it added that electrification “must not become a substitute or a distraction” from the chief goal of transitioning away from fossil fuels.
Seychelles also endorsed the pledge but added that it must be connected with cleaner electricity. “Electrifying more activities while continuing to burn fossil fuels will not deliver the full economic or climate benefits,” the country’s representative told the roundtable.
Australia’s climate and energy minister Chris Bowen, whose country is co-leading the pledge with Türkiye, has defended its design. “Electrification is almost always a good thing,” he told the Outrage and Optimism podcast recently. He argued that switching to an electric car cuts emissions by 60% even on a coal-fired grid, and by 90% when powered by solar.
Doug Arent, senior fellow at the WRI Polsky Center for the Global Energy Transition, said the most important thing “is that there is significant support for the concept of electrification”. He expects more countries to “recognise their pathway to be behind the 35 by 35” in the coming years.
Calls for finance
Other developing countries backing the pledge have underlined the critical importance of access to finance. Pakistan’s Prime Minister Shehbaz Sharif showed off his country’s people-led boom in rooftop solar and growing rollout of electric vehicles. But he added that “momentum without finance cannot be sustained,” and said the burden of new technologies cannot fall on countries already in debt.
Zimbabwe backed the pledge but warned of the high capital costs and financial bottlenecks facing developing countries. Its representative proposed a global electrification investment facility that would provide first-loss guarantees for projects under Mission 300, an initiative to connect 300 million people in Sub-Saharan Africa to electricity by 2030.
The Solomon Islands, another supporter of the pledge, asked for a dedicated finance access window for small island nations and least developed countries (LDCs).
Tuesday saw the launch of a global finance coalition backed by COP31 host Türkiye and COP32 host Ethiopia aimed at supporting clean electrification in developing countries.
Closing the roundtable, Türkiye’s energy minister Alparslan Bayraktar, who chaired the session, claimed the 35×35 pledge had found broad support worldwide. He called for a “smart” energy transition that draws on all available technologies, including carbon capture, use and storage.
The post COP31’s electrification pledge wins support, with caveats on clean power and finance appeared first on Climate Home News.
COP31’s electrification pledge wins support, with caveats on clean power and finance
Climate Change
Albanese must deliver credible action to end fossil fuel chokehold, not just rhetoric
ANTALYA,Türkiye, Thursday 12 November 2026 — In response to Prime Minister Albanese’s COP31 Leaders’ Summit address, Shiva Gounden, Head of Pacific at Greenpeace Australia Pacific, speaking from Antalya said:
“Prime Minister Albanese’s COP31 address was full of nice rhetoric, but once again failed to confront or even mention the root cause of the climate crisis — fossil fuels.
“In Antalya, UN climate chief Guterres told leaders to “tell the truth”. The truth is Australia can not credibly talk about its clean energy transition while continuing to expand the industry it needs to leave behind. Australia must reckon with reality; its damning track record of 38 coal and gas approvals since it took office in 2022.
“We meet in Antalya amidst a global energy shock and dire projections of 1.5°C overshoot. Overshoot means something in the Pacific — it means irreversible harm, lives and cultures lost forever, entire nations at stake. We must face the fierce urgency of now.
“Never before has the need to end the fossil fuel chokehold been so abundantly clear, as our Pacific communities again suffer the consequences of a global economy hooked on coal, oil and gas. The Pacific needs credible roadmaps and clear timelines to unhook from fossil fuels — Australia can’t keep saying implementation and not reflect it with credible action.”
ENDS
COP31 images and video available here in Greenpeace Media Library
Media contact: Kate O’Callaghan in Antalya (GMT+3) on +61 406 231 892 (Whatsapp/Signal)
Albanese must deliver credible action to end fossil fuel chokehold, not just rhetoric
A second set of world leaders give their speeches on Thursday before heading out of town and leaving their negotiators to it. After around 40 leaders spoke on Wednesday, today there will be just 25 or so including the UK’s Andy Burnham, Venezuela’s Delcy Rodriguez and Bangladesh’s Tarique Rahman.
But Brazil’s President Lula is still there and is expected to keep grabbing headlines, along with California’s Governor – and maybe next US president – Gavin Newsom – and Swedish climate activist Greta Thunberg who has lost none of her star power, if the crowd around her in the press centre was anything to go by.
We’ll bring you highlights through the day on issues ranging from finance to methane, and update you on a pledging event for the Pacific Resilience Facility, which the climate-vulnerable region is relying on to keep small island nations as safe as possible in the face of intensifying storms, drought and sea level rise.
The post COP31 Bulletin Day 4: Burnham speaks with UK climate policy under fire appeared first on Climate Home News.
COP31 Bulletin Day 4: Burnham speaks with UK climate policy under fire
