Rising fuel prices are once again pushing UK drivers towards electric cars, with fresh data revealing a significant surge in interest across both leasing and retail markets. Analysis by the RAC Foundation indicates that recent price increases have cost UK motorists an additional £307 million for petrol and diesel, prompting more consumers to consider switching to electric vehicles.
Renault Reports Sharp Increase in EV Enquiries
Renault has disclosed a notable uptick in interest, with the company's UK managing director Adam Wood confirming to The Independent that enquiries have risen by 24 percent since the beginning of the Middle East conflict on 28 February. "We've seen a 24 percent uplift in enquiries for EVs," stated Wood. "We're well positioned to take advantage of any uptick in interest, but fundamentally peace is what I think is in the global interest."
Wood made these comments during the launch of Renault's latest electric car, the new Renault Twingo, which is scheduled to go on sale at the end of the year with an expected price below £20,000 before any additional government incentives. Renault is currently performing ahead of the government's Zero Emissions Vehicle Mandate target of 33 percent electric sales this year. "We've gone from 12 percent EV mix two years ago to 34 percent today," explained Wood. "So we're now actually performing ahead of the Zero Emission Vehicle Mandate, and I think a lot of that's driven by organic demand created by products that are changing the game."
Leasing and Retail Markets Show Parallel Growth
Additional data reinforces the growing interest in electric vehicles. Figures from Octopus Electric Vehicles demonstrate that enquiries for EV leasing have jumped by 36 percent since the start of the Middle East conflict. Simultaneously, data from Autotrader indicates a similar trend among car buyers, with new EV leads increasing by 28 percent in less than a month and used EV enquiries rising by 15 percent.
The context for this shift is a noticeable rise in fuel prices, with petrol climbing to £1.48 per litre and diesel reaching £1.73 per litre—among the highest levels observed in the past year. Although still below the peaks recorded in 2022, these recent increases appear to be having an immediate impact on consumer behaviour.
Record Interest in Used Electric Vehicles
Autotrader's data reveals that used electric vehicles aged between zero and five years now account for 19.5 percent of all leads in that segment, marking the highest share on record. This is particularly striking given that electric cars still constitute only around 5 percent of vehicles currently on UK roads.
Industry experts suggest that drivers are increasingly seeking ways to reduce exposure to fluctuating fuel costs, with electric vehicles offering more predictable running expenses. Electricity prices can be fixed through tariffs, and smart charging can further reduce costs by shifting energy use to cheaper, off-peak periods.
On tariffs such as Octopus's Intelligent Octopus Go, drivers can save hundreds of pounds annually compared to running a petrol or diesel car, according to the company, thanks to lower overnight charging rates.
Broader Market Trends and Consumer Sentiment
The shift towards electric vehicles is also reflected in the wider new car market, where EVs now represent approximately one in four new registrations in the UK—a share that continues to grow as more models become available and infrastructure improves.
"Drivers are feeling the pinch every time they fill up their tank," remarked Gurjeet Grewal, CEO of Octopus Electric Vehicles. "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."
Autotrader is observing similar behaviour among buyers browsing its platform. Ian Plummer, chief customer officer at Autotrader, noted: "Even though petrol prices aren't anywhere near the extremes of 2022 yet, the Iran conflict has clearly moved fuel costs to the front of buyers' minds. Our data shows a sharp rise in both new and used EV leads since the war began at the end of February, with used EV enquiries hitting record levels on the Autotrader marketplace."
Expanding Interest Beyond Automotive Sector
The trend extends beyond cars. Octopus Energy reported a 27 percent increase in solar enquiries in the early days of the conflict, suggesting that households are also looking more broadly at ways to manage their energy costs.
With global energy markets remaining uncertain, the latest figures point to a growing connection between fuel price volatility and demand for electric vehicles. Drivers are increasingly drawn to the promise of lower and more predictable running costs, signalling a potential long-term shift in transportation preferences.
