Trending Now - Rising Gas Prices From Iran Conflict May Drive EV Sales

WHO:

Kevin Ketels, 55, assistant professor of global supply chain management at Wayne State University

Patrick De Haan, GasBuddy petroleum analyst

Erich Muehlegger, economics professor at University of California, Davis

Holt Edwards, principal in Bracewell's Policy Resolution Group

Pierpaolo Cazzola, energy expert at Columbia University's Center on Global Energy Policy

Euan Graham, analyst at energy think tank Ember

Michael B. Klein, 56, software developer in Evanston, Illinois

Peter Zalzal, attorney with Environmental Defense Fund

WHAT:

The national average for a gallon of regular gas was $3.57 as of March 12th, 2026, up from $2.94 a month prior.

Interest in hybrids, plug-in hybrids, and battery EVs accounted for 22.4% of all vehicle research activity on Edmunds' site for the week starting March 2nd, 2026, up from 20.7% the previous week.

New EVs sold for an average of $55,300 in February 2026, while new vehicles overall sold for an average of $49,353.

A fuel surcharge of 21.5% kicks in for FedEx Ground and home deliveries when diesel prices hit at least $3.55 a gallon.

As of March 9th, 2026, diesel cost $4.86 a gallon, leading to a 24.75% fuel surcharge for the week ahead.

WHERE:

Detroit, Michigan (Kevin Ketels' location)

Evanston, Illinois (Michael B. Klein's location)

WHEN:

The articles were updated on March 12th, 2026.

The week starting March 2nd, 2026, was referenced for vehicle research activity.

The previous month referenced for gas prices was February 2026.

As of March 9th, 2026, diesel prices were reported.

WHY:

The rise in gas prices is attributed to the ongoing war in Iran, which disrupts oil flow through the Strait of Hormuz.

Experts suggest that prolonged high gas prices may drive interest and sales in electric vehicles (EVs).

HOW:

Experts noted that residential electricity prices are regulated and less volatile than gasoline prices, which protects EV owners from oil price shocks.

The increase in electricity prices is attributed to surging power demand from new data centers and other factors.

(UPDATED March 12, 2026 13:21 UTC)

As of today, the national average for a gallon of regular gas has risen to $3.57, a significant jump from $2.94 just a month ago, largely due to the ongoing war in Iran disrupting oil flow through the Strait of Hormuz. Meanwhile, interest in hybrids and electric vehicles has surged, making up 22.4% of all vehicle research activity on Edmunds' site last week, and new electric vehicles sold for an average of $55,300 in February. Experts suggest that the stability of residential electricity prices, compared to the volatility of gasoline prices, may encourage more consumers to consider electric vehicles as a viable option amid these rising costs.