UK’s diesel run cars could soon become a thing of the past. The government has planned to ban sales of new petrol and diesel vehicles in the nation by 2040. The harmful nitrogen oxide released by diesel engines have them one of the most prominent culprits behind climate change and environmental damage. Lookers plc, retailers of used cars have some interesting views on the fuel economy of the UK and its future.
Trouble lay ahead
The UK is going through a period of turmoil and even though things look quite mundane in day-to-day life, the truth is that we are under severe stress. The RAC has reported that the prices of fuel in UK have been fluctuating consistently. UAE is facing its own troubles while Brexit negotiations are forcing the country to design new bilateral trade relations with other countries, especially those that supply fuel.
Simon Williams, RAC spokeswoman commented, both petrol and diesel are now at their highest points for more than three years which is bound to be making a dent in household budgets”.
Even though the UK increased its domestic fuel production in January 2016, which led to a 98p price drop, we still import 38% of our energy. This leads us in a vulnerable situation where compromises will be difficult to make. In the wake of this situation, RAC and some experts are now asking supermarkets to reduce costs. Three leading supermarkets have decreased fuel prices by 2p recently but this doesn’t seem too helpful for the people.
Fluctuations in fuel prices are highly anticipated as Brexit agreements could be very hard and the nation may have to draft new policies for bilateral partnerships with several trading countries. This could mean additional delay in fuel price adjustments. Even if global forces keep fuel prices stable, the value of the pound could make it expensive for us. Note that the value of the pound against the dollar fell by 20% post the Brexit vote. This led to a 10p increase in fuel prices.
Electric fuel stations are here to stay
Electric cars have made a huge impact on the British auto market. The manufacturers sold only 3,500 cars in the entire year of 2013. However, in 2017, at least 4,000 new vehicles were being registered every month. The electric vehicles market was subdued because of lack of charging points and batteries that were not as effective as gasoline. However, now companies like Nissan are coming 50% more efficient fuel batteries and the number of charging ports are increasing in the UK.
InstaVolt and ChargePoint signed a multimillion pound deal in May 2017 to install 3,000 new rapid charging points across the UK. They could also be working on the ‘instantly rechargeable’ system that could charge a battery as soon as you fill a gas tank. Even oil firms realize the need of the hour. This is why Shell and BP have proposed to add more charging points in their fuel stations. BP has also invested $5 million in an American company, Freewire Technologies that makes smaller sized charging units that can top up a car in only 30 minutes.
Globally, three million electric cars are running on the streets and the number is expected to rise as time passes by.