Following a few weeks of regional uncertainty, there’s renewed discussion about gas price volatility and whether buying an electric car could be a better deal than a similar used gas-powered vehicle. 

With the rising cost of petrol per barrel worldwide, fuel prices will likely rise, too. While petrol prices in the UAE have remained steady, diesel prices have doubled. Meanwhile, EV makers like Tesla have temporarily offered free supercharging in the UAE, Saudi Arabia, and Qatar to help users during tough times. But could the current variables have a cascading effect on a possible region-wise EV switch?

To explore this, we first need to understand the basic economic differences between electricity and oil, and then look at what motivates consumers to actually make the switch.

THE STABILITY PARADOX

Experts say electricity prices are more stable than oil prices because of the nature of the two commodities. Mohamed Elzawawy, General Manager of Performance Plus Motors and Voyah, explains that electricity prices are usually steadier because “they are regulated and supported by long-term national energy strategies, particularly in markets like the UAE, where electrification is a clear priority,” he says. 

He contrasts this with the inherent volatility of oil, which he notes is “driven by global market forces, geopolitical shifts, and supply-demand fluctuations.” He adds that this stability is a key selling point for his brand, giving drivers more predictability and control over their running costs through smart electric technologies built for the long haul.

Sebastian Fuchs, Managing Director of AutoData Middle East, agrees and ties this to today’s economic situation. “Electricity prices are generally more stable because they are linked more closely to regulated tariffs, infrastructure planning, and long-term energy policy, whereas oil prices react quickly to geopolitical shocks,” Fuchs says. 

He highlights the current vulnerability of oil, noting that “Brent recently rose above $112 per barrel and about  20% of global oil and LNG trade passes through the Strait of Hormuz.” For consumers, Fuchs says, “predictability” matters as much as price. “When drivers can estimate charging costs more confidently than petrol prices, that strengthens one of the key practical advantages of EV ownership.”

THE CATALYST QUESTION

With diesel prices doubling and major manufacturers offering free charging, the obvious question is whether higher fuel costs are the last nudge consumers need to switch to electric vehicles.

Elzawawy sees rising fuel costs as an important factor, but not the only one. “Rising fuel prices can play a role in shaping consumer consideration toward EVs, particularly by highlighting the long-term savings of owning an EV,” he says. 

But he adds that the final choice depends on many factors, such as charging options, overall costs, and how comfortable people are with electric mobility. He believes the shift will be “gradual” and that flexible technologies, like extended-range options, are key to easing worries about range and convenience. 

Fuchs takes a more assertive stance on the impact of the current volatility, suggesting that while gas prices aren’t the sole trigger, they are often the decisive one. “Rising fuel prices can accelerate EV consideration, especially among high-mileage drivers, commuters, and fleets that are more exposed to running costs,” he says. Fuchs argues that higher petrol prices “sharpen the total cost of ownership conversation,” pushing consumers to look beyond the sticker price. He points to maturing market data to support this trend: “In the UAE, that matters more now because the market is maturing, including a 41% rise in pre-owned EV activity in 2025.”

Fuchs says higher fuel prices are “the catalyst that moves consumers from interest into action.”

Overall, the current geopolitical situation has put the GCC automotive market to a unique test. Although UAE regulations have kept petrol prices steady for consumers, the doubling of diesel prices and global oil volatility are changing the economics of everyday travel. In recent years, petrol and diesel prices in the region have largely aligned with international price trends.

As the insights from Voyah and AutoData suggest, the path to an EV switch is not dependent on a single variable. It is the combination of stable, predictable electricity tariffs, supported by national strategy, coupled with the sharpening financial reality of volatile fuel costs, that is likely to create a cascading effect. 

With the pre-owned EV market growing and more attention on total ownership costs, the region seems to be moving beyond asking “if” and is now focusing on “when” EVs will be widely adopted.