Driving an EV now costs half as much as diesel, new analysis shows

EV drivers are paying half what diesel drivers are paying at the pump, new data analysed by T&E shows [1]. Europe must commit to shifting to electric as quickly as possible, says T&E, which calls on governments to resist blanket fuel duty cuts, but instead use targeted reimbursements to low-income households and to tax energy firms to fund scrappage schemes and improved public transport.

Antony Froggatt, senior director at T&E: “We are at a critical moment in the diesel crisis. Prices are already sky high for citizens and businesses and if the US blocks exports of diesel, there is a real risk of a genuine shortage of supply. This would be crippling. Electrification is the only way to ensure this is the last oil crisis. But we need short-term measures as well. The EU should tax oil profits and use it to support low-income households and fund scrappage schemes.”

Latest data shows that diesel drivers are paying €32 more per tank than at the start of the year, and around €16 of that is extra refinery margin.[2] As refinery margins have grown, so have oil company profits. Previous T&E analysis shows that oil companies have doubled their total oil profits in Europe in the last quarter. “We need to tax oil profits and use these to fund affordable EVs and scrappage schemes,” concludes Antony Froggatt.

A big chunk of Europe’s diesel goes to its trucks and vans. A study published by T&E on Monday shows that electric trucks are cheaper to operate than diesel for almost half of trucks sold in the EU. This comes as European truckmaker CEOs are calling for delays to emissions targets which would cut the sales of e-trucks by half.

EU energy chief Dan Jørgensen wrote to national capitals asking them to consider putting in force energy-saving measures, in response to potentially high gas prices. The EU Commission should not just focus on gas, says T&E, with oil and diesel representing the sharp end of the crisis, says T&E.

ENDS

NOTE TO EDITORS

[1] Refuelling/recharging costs only. Based on average consumption of 6.9 L/100 km (diesel) and 20.2 kWh/100 km (battery electric), and an electricity price of €0.343/kWh

[2] 50-litre tank. Pump price: EU-27 weighted average diesel price including taxes (EC Weekly Oil Bulletin, 21 September 2026), compared with the February 2026 average. Refinery margin: ECB estimates, up from about €0.10/L in February to €0.41/L around 14 September 2026 (ECB, 2026; Euronews, 19 September 2026). The margin figure is a week older than the pump price, but the diesel crack stayed broadly stable between the two dates.