In 2022, lithium-ion battery prices were $170 per kWh, while oil prices reached $120 per barrel. By 2026, global average battery prices fell to $105 per kWh. Simultaneously, oil prices have recently surged past the $105 mark, marking a shift where battery capacity is now cheaper than a barrel of oil.
High fuel prices in 2026 resulted in an oil crisis premium of €55 billion for European car owners, averaging €220 per vehicle annually. Electric vehicle drivers currently pay on average 2–3 times less for energy compared to those using petrol or diesel vehicles.
The European Union is currently debating the future of automotive regulations and the 2035 phase-out of combustion engines. Proposals under discussion could allow manufacturers to meet CO2 targets without selling electric vehicles by incorporating biofuels.
Electric vehicle sales in France and Germany have doubled over the past few months compared to the same period in the previous year. Industry groups and civil society organizations have called for a reset of the current electric vehicle policy debate.
