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Everyday, 2.3 Million Barrels Of Oil Are Saved By Electric And Hybrid Vehicles

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5th-generation 2027 Toyota Highlander Debut As An All-electric SUV - autojosh

Electric and partially electric cars saved 2.3 million barrels of oil per day worldwide last year, Bloomberg reports.

The global electric vehicle fleet is expected to continue growing in the coming years. As a result, the number of saved barrels of oil could rise to 5.25 million in 2030, Bloomberg researchers expect.

Think tank Ember presented a more conservative calculation almost simultaneously. According to their researchers, 1.7 million barrels of oil were saved every day last year, compared to 1.3 million the year before. In its calculation, Ember assumed that plug-in hybrids run on gasoline more often than on the battery.

There is also a benefit for the wallet. For instance, according to Ember, Europe will have saved 8 billion dollars in oil costs by 2025 due to electric driving. The researchers base this on an oil price of 80 dollars per barrel. For China, the savings amounted to as much as 28 billion dollars.

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