Rising fuel prices are accelerating the financial feasibility of fleet electrification, with experts suggesting they could fast-track the tipping point for adoption.

Peter Golding, CEO at fleet software specialist FleetCheck, said that even if the conflict in the Middle East ended today, fuel prices are likely to remain high for a long time to come.

And this will inevitably change whole-life cost calculations around electric vehicle adoption, prompting managers to reassess traditional vehicle choices in favour of electric alternatives.

Golding said calculations on the ‘EV inflection point’ will be different for each company, but some will currently be re-examining previous decisions.

“While electricity prices are likely to rise as well as petrol and diesel, the cost of recharging an electric car or van is likely to remain much, much lower on a pence-per-mile basis than fuelling an internal combustion engine (ICE) equivalent.

“The more miles each vehicle covers, the greater the difference and, for some fleets, this will be enough to make now the moment when electrification starts to make financial sense.”

In some cases, the fuel savings are now so significant they actually outweigh the practical hurdles of switching to EVs.

“The longer the war goes on, the more electrification comes into play,” he stated.

Golding added that while there has been little disruption at the pumps so far, some organisations might also see security of petrol and diesel supply as an issue.

“Thankfully, we’ve not yet seen widespread queues at fuel stations but the situation does mean fleets for whom supply is a key issue might begin to view electrification differently.

“One of the underdiscussed advantages of electrification is that supply is very unlikely to be disrupted in the dramatic manner of pump fuel. You are more likely to always be able to use your domestic or depot chargers, whatever is happening with petrol and diesel.

“Again, for fleets in specific circumstances, this will be enough for them to reconsider the question of EV adoption.”