In recent days, electric vehicles (EVs) have rapidly grown in popularity. Touted as a way of helping down the environment, these vehicles were once cheaper to "refuel" as compared to petrol cars. Not anymore.

According to a Daily Mail report, the cost of utilising public rapid charge points for electric car owners in the United Kingdom has increased by 42 per cent in just four months, making it almost as expensive as using petrol.

Watch |&nbsp;United Kingdom's cost of living crisis worsens with an energy price increase

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The RAC reported that since May, the average cost per kilowatt hour (kWh) for using the chargers on a pay-as-you-go basis had grown from 18.75 pence in may to the current 63.29 pence.

As a result of the skyrocketing prices of gas and energy, the cost to quickly charge a typical family-sized electric car to 80 per cent capacity has increased by around £10 ($10.6).&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/britons-say-cant-pay-wont-pay-as-energy-prices-to-surge-further-in-2023-505266">Britons say 'can't pay, won't pay' as energy prices to surge further in 2023</a>

This means someone who uses a rapid or ultra-rapid public charger pays 18 pence per mile for electricity. Petrol users pay 19 pence and diesel users 21 pence for the same distance.&nbsp;

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Public rapid EV charging costs have risen 42% in just four months 🔺 
 
Charging away from home still costs less than refuelling a petrol or diesel car but the gap is closing ⛽ 
 
The Government needs to cut the 20% vat on public charge points to match the 5% domestic rate ⚡ <a href="https://t.co/JZ7rACJas3">pic.twitter.com/JZ7rACJas3</a>
— The RAC (@TheRAC_UK) <a href="https://twitter.com/TheRAC_UK/status/1574292731622481921?ref_src=twsrc%5Etfw">September 26, 2022</a></blockquote>
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Simon Williams, spokesperson for the RAC spokesperson &nbsp;said that while charging away from home still costs less than refuelling a petrol or diesel car, "these figures show that the gap is narrowing as a result of the enormous increases in the cost of electricity."

Also read |&nbsp;<a href="https://www.wionews.com/world/oecd-cuts-2023-global-growth-forecast-to-22-per-cent-due-to-ukraine-crisis-519771" hreflang="en">OECD cuts 2023 global growth forecast to 2.2 per cent due to Ukraine crisis</a>

"These figures very clearly show that its drivers who use public rapid and ultra-rapid chargers the most who are being hit the hardest."

The growing domestic energy costs are preventing many people from switching to an electric cars, according to a 12,500-person AA poll.&nbsp;The rise in home energy bills, according to 63 per cent of respondents, is one factor keeping them with petrol or diesel vehicles, and 10 per cent indicated it was the "major reason."

(With inputs from agencies)

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In recent days, electric vehicles (EVs) have rapidly grown in popularity. Touted as a way of helping down the environment, these vehicles were once cheaper to "refuel" as compared to petrol cars.

In recent days, electric vehicles (EVs) have rapidly grown in popularity. Touted as a way of helping down the environment, these vehicles were once cheaper to "refuel" as compared to petrol cars. Not anymore. According to a Daily Mail report, the cost of utilising public rapid charge points for electric car owners in the United Kingdom has increased by 42 per cent in just four months, making it almost as expensive as using petrol. Watch | United Kingdom's cost of living crisis worsens with an energy price increase The RAC reported that since May, the average cost per kilowatt hour (kWh) for using the chargers on a pay-as-you-go basis had grown from 18.75 pence in may to the current 63.29 pence. As a result of the skyrocketing prices of gas and energy, the cost to quickly charge a typical family-sized electric car to 80 per cent capacity has increased by around £10 ($10.6). Also read | Britons say 'can't pay, won't pay' as energy prices to surge further in 2023 This means someone who uses a rapid or ultra-rapid public charger pays 18 pence per mile for electricity. Petrol users pay 19 pence and diesel users 21 pence for the same distance. Public rapid EV charging costs have risen 42% in just four months 🔺 Charging away from home still costs less than refuelling a petrol or diesel car but the gap is closing ⛽ The Government needs to cut the 20% vat on public charge points to match the 5% domestic rate ⚡ pic.twitter.com/JZ7rACJas3 — The RAC (@TheRAC_UK) September 26, 2022 × Simon Williams, spokesperson for the RAC spokesperson said that while charging away from home still costs less than refuelling a petrol or diesel car, "these figures show that the gap is narrowing as a result of the enormous increases in the cost of electricity." Also read | OECD cuts 2023 global growth forecast to 2.2 per cent due to Ukraine crisis "These figures very clearly show that its drivers who use public rapid and ultra-rapid chargers the most who are being hit the hardest." The growing domestic energy costs are preventing many people from switching to an electric cars, according to a 12,500-person AA poll. The rise in home energy bills, according to 63 per cent of respondents, is one factor keeping them with petrol or diesel vehicles, and 10 per cent indicated it was the "major reason." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

United Kingdom: As energy crisis worsens, 'refuelling' an EV gets as expensive as petrol car

States can cut petrol price by Rs 2.65 per litre and diesel by Rs 2 a litre if they decide to forego potential additional gains out of high crude oil rates, an SBI report said today.

"Our analysis shows that at the current crude prices and extending our analysis to 19 states (overall consumption share is 93 per cent), the states could have gained at least an additional Rs 18,728 crore of revenue (in 2018-19)," said SBI's Ecowrap report.

It further said that states earn an additional revenue of Rs 2,675 crore over and above the budget estimates for every USD 1/barrel increase in oil prices.

"Given that these revenue if foregone will not impact states fiscal position, we estimate that on an average, states can cut petrol prices by Rs 2.65/litre and diesel by Rs 2/litre, if the entire revenue gain was to be neutralised. This is the most plausible scenario under the current circumstances," the report said.

It also said that one suggestion to further rationalise the petrol and diesel prices is to consider a pricing mechanism where VAT is imposed on base price only by states and not on prices inclusive of the Centre's tax.&nbsp

If this was the case, diesel prices could further reduce by Rs 3.75 a litre and petrol prices by Rs 5.75 per litre, it said. 
&nbsp 
"However, if this was to happen, the state will have to forego Rs 34,627 crore of tax revenue / 0.2 per cent of consolidated fiscal deficit of states," said Ecowrap.

On the other hand, if the Centre cuts the excise by Re 1, the loss of revenue will be to the tune of Rs 10,725 crore for every Re 1 cut in central excise and the amount will become twice if it cuts the excise duty by Rs 2.&nbsp

This will push up the deficit of Centre, unlike states, it added.

Petrol price has been hiked by Rs 3.64 a litre and diesel by Rs 3.24 in Delhi since state-owned oil firms ended a 19-day pre-Karnataka poll hiatus to resume daily price revision on May 14. The prices are at an all-time high.&nbsp

 
&nbsp

States can cut petrol price by Rs 2.65 per litre and diesel by Rs 2 a litre if they decide to forego potential additional gains out of high crude oil rates, an SBI report said

States can cut petrol price by Rs 2.65 per litre and diesel by Rs 2 a litre if they decide to forego potential additional gains out of high crude oil rates, an SBI report said today. "Our analysis shows that at the current crude prices and extending our analysis to 19 states (overall consumption share is 93 per cent), the states could have gained at least an additional Rs 18,728 crore of revenue (in 2018-19)," said SBI's Ecowrap report. It further said that states earn an additional revenue of Rs 2,675 crore over and above the budget estimates for every USD 1/barrel increase in oil prices. "Given that these revenue if foregone will not impact states fiscal position, we estimate that on an average, states can cut petrol prices by Rs 2.65/litre and diesel by Rs 2/litre, if the entire revenue gain was to be neutralised. This is the most plausible scenario under the current circumstances," the report said. It also said that one suggestion to further rationalise the petrol and diesel prices is to consider a pricing mechanism where VAT is imposed on base price only by states and not on prices inclusive of the Centre's tax. If this was the case, diesel prices could further reduce by Rs 3.75 a litre and petrol prices by Rs 5.75 per litre, it said. "However, if this was to happen, the state will have to forego Rs 34,627 crore of tax revenue / 0.2 per cent of consolidated fiscal deficit of states," said Ecowrap. On the other hand, if the Centre cuts the excise by Re 1, the loss of revenue will be to the tune of Rs 10,725 crore for every Re 1 cut in central excise and the amount will become twice if it cuts the excise duty by Rs 2. This will push up the deficit of Centre, unlike states, it added. Petrol price has been hiked by Rs 3.64 a litre and diesel by Rs 3.24 in Delhi since state-owned oil firms ended a 19-day pre-Karnataka poll hiatus to resume daily price revision on May 14. The prices are at an all-time high.

States can cut petrol price by Rs 2.65/litre by giving up additional gains: Report

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United Kingdom: As energy crisis worsens, 'refuelling' an EV gets as expensive as petrol car

States can cut petrol price by Rs 2.65/litre by giving up additional gains: Report