Surging electric-vehicle sales are helping to darken the outlook for road fuel demand in the UK.
While the nation’s automakers reported their worst overall sales year in three decades in 2022, EVs bucked the trend with shipments surging 40 percent from a year earlier.
That drove up their share of the nation’s new-car market to 17 percent from 12 percent, data from the Society of Motor Manufacturers and Traders (SMMT) shows.
EV adoption is increasingly eating into road fuel demand around the world, offering hope of cleaner air and curtailed carbon emissions.
UK gasoline and diesel prices were the most volatile on record last year, according to a study by the UK Competition and Markets Authority.