Trending Now - Rising Gas Prices May Accelerate Shift to Electric Vehicles

WHO:

President Trump (mentioned in context of EV tax credits)

Scott Case, cofounder and CEO of Recurrent

Corey Cantor, research director at the nonprofit Zero Emission Transportation Association

Jesse Lore, CEO of Green Wave Electric Vehicles

Shannon Golbienko, co-owner of Eco Auto Northwest

WHAT:

The national average gasoline price is $3.96 per gallon as of March 23rd, 2026.

Approximately 300,000 EV leases are set to expire in 2026.

Used EV sales increased by 10.2% year-over-year by December 2025.

Total used EV sales in 2025 were up 35% compared to 2024.

A typical used gas vehicle costs between $20,000 to $30,000.

A used Tesla Model 3 or Volkswagen ID.4 can be found in the same price range as a five-year-old gas vehicle but is a year newer with 20,000 fewer miles.

A used Chevy Bolt can sell for around $15,000.

More than half of the used EV inventory is priced at $30,000 or less.

Over 18,000 new public fast chargers were added in the U.S. in 2025, a 30% increase from 2024.

After three years, EV batteries still show 97% of their original range.

WHERE:

United States (context of gasoline prices and EV market)

Massachusetts and New Hampshire (locations of Green Wave Electric Vehicles)

Washington State (location of Eco Auto Northwest)

WHEN:

The conflict between the United States and Israel with Iran began in 2026.

The Trump administration ended EV tax credits in September 2025.

The leasing boom for EVs started around 2023.

WHY:

Rising gas prices are driving consumers to consider switching to electric vehicles.

Consumers have historically cited cost as a top barrier to buying an EV.

HOW:

Consumers are trading in gas vehicles for EVs to avoid high gas prices.

The influx of used EVs is due to expiring leases and a decrease in used gas car availability.

(UPDATED March 23, 2026 15:41 UTC)

As of today, the national average gasoline price stands at $3.96 per gallon, prompting many consumers to consider switching to electric vehicles. With approximately 300,000 EV leases set to expire this year and used EV sales increasing significantly, the market is seeing a notable shift, especially as more than half of the used EV inventory is priced at $30,000 or less. Industry experts, including President Trump and leaders from various electric vehicle organizations, are discussing how these trends could reshape the automotive landscape in the United States.