Broomfield, CO, USA – June 15, 2022 – Gas prices have spiked to record highs lately, hitting consumers’ budgets hard just before the summer travel season. MotorCloud, the biggest site for EVs, has seen traffic increase.
While there appears to be no relief in sight to rising gas prices, with Exxon Mobil and Chevron posting record profits last quarter, there is something shoppers and road trippers can do: buy an electric vehicle. With an unprecedented low supply of vehicles in the market, it’s important to have access to as many of those vehicles as possible when conducting your search. MotorCloud.com has the largest selection of EVs on the internet.
Gasoline has hit a record national average of over $5 a gallon ($5.02 according to AAA). California has the highest state average in the country at $6.44, (diesel is $7). The price jump has been caused by numerous factors. Russia’s invasion of Ukraine has impacted gas prices worldwide. Russia is the world’s largest exporter of oil and second largest exporter of crude oil. The US has banned Russian oil from being imported. While the US gets little of Russia’s oil anyway, (it mainly goes to Europe and China), oil is priced in global markets, so it still impacts gas prices in the US. The European Union has banned Russian oil imports via ship, which is about two thirds of it.
But gas prices were already expected to surge, whether there was a war in Ukraine or not. US oil companies are slowing down efforts to expand drilling, as equipment and personnel are not available. And Covid lockdowns in China are lifting, which increases demand on oil, sending prices higher as well. On top of that, the low supply of vehicles in the market for the last two years has made it more difficult to find a car, or afford it, with vehicle prices increasing every quarter since 2020, except the last two. The surge in gas prices raises the question: even if you can find the car you want, and figure out how to afford it, will you be able to afford driving it?
One answer remains simple: buy an electric vehicle. With more and more manufacturers offering hybrid and fully electric models, and newcomers like Rivian getting in the game (admittedly, their trucks start at $67,500, outside many shoppers’ price range), there are more options than ever for EVs. And they’re getting better, with longer range, more capabilities and more price points within reach for the average consumer. EV manufacturers and other companies are investing in more charging infrastructure, making road trips easier, and tougher emissions standards on internal combustion engines offer yet another reason to make the switch to an EV.
As the first true search engine for cars, MotorCloud.com has the largest pool of vehicles on the internet – even more than the big name sites you know. This is even more pertinent when searching a smaller subset of cars, like EVs: the smaller the supply of vehicles, the more important it is that you’re actually looking at all of them. So if you’re in the market for an EV, shop MotorCloud.com for your best chance at a good deal.
MotorCloud is the first true automotive search engine. It has the most complete index of vehicles on the internet, and brings market analytic tools previously only available to dealers, to the public. Visit www.motorcloud.com for more.
Media Contact:
Ted Reckas
Email: ted@motorcloud.com
Mobile: 805-901-1426
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Media Contact
Company Name: MotorCloud
Contact Person: Ted Reckas
Email: Send Email
Phone: 805-901-1426
Country: United States
Website: http://www.motorcloud.com
