Interest in EV leasing jumps 36% as drivers seek relief from soaring fuel costs
- EV leasing enquiries surge as UK drivers react to rising petrol and diesel prices, Octopus EV data reveals
- Fuel costs hit a 12-month high, driving motorists to shift towards cheaper, more predictable electric driving
- EV tariffs unlock hundreds of pounds in savings compared to running a fossil fuelled car
London, 25th March 2026 – Soaring fuel prices are pushing UK drivers towards electric. Octopus Electric Vehicles (Octopus EV) has seen EV leasing enquiries jump 36% since the start of the conflict in the Middle East.*
With global oil and gas markets in flux, petrol prices have climbed to £1.48 per litre and diesel to £1.73 per litre – some of the highest levels seen in over a year.**
The rise at the pumps is prompting drivers to rethink their reliance on fossil fuels, swapping volatile fuel costs for the stability and savings of electric miles.
Unlike petrol and diesel, electricity can offer stable, predictable costs, especially when paired with renewable energy or fixed tariffs.
On Octopus’s Intelligent Octopus Go EV tariff, drivers can save hundreds of pounds a year compared to running a petrol or diesel vehicle, thanks to smart charging at greener, cheaper times.
The surge in EV interest also reflects a broader change in consumer behaviour. Electric vehicles now make up around one in four new car sales in the UK*** – and that share is rising.
As energy markets remain volatile, Octopus expects demand for EVs to keep growing, helping drivers protect themselves from unpredictable fuel costs and take control of their energy use.
“Drivers are feeling the pinch every time they fill up their tank,” said Gurjeet Grewal, CEO of Octopus Electric Vehicles. “We’re seeing a real shift – people want certainty over their bills. Leasing an electric car gives drivers a simple, affordable way to break free from unpredictable fuel prices.”
The trend doesn’t stop at cars. Last week, Octopus Electric Vehicles’ sister company Octopus Energy reported a 27% jump in solar enquiries in the early days of the conflict in the Middle East, as homeowners look to take control of their energy bills.
Octopus EV – the UK’s largest EV-only leasing company – continues to make switching to electric cars as easy as possible, with all-inclusive leasing packages and smart charging solutions designed to save money and maximise convenience.
ENDS
Notes to Editors:
* Octopus EV leasing enquiries 1-22 March vs 8-28 February 2026
*** New Automotive February car sales data
Press Contact:
Sam Salehi
0204 5308 369
Octopus Electric Vehicles:
Octopus Electric Vehicles, part of the Octopus Energy Group, was launched in 2018 to make it easy for drivers to make the switch to clean, electric transport. With over 133 electric cars now available from 30 different brands, Octopus Electric Vehicles’ team provides everything drivers need to take to the road in a new EV.
Offering an all-in-one service, Octopus lease the cars, install charge points, provide specialist EV energy tariffs, and offer access to over 1.2 million public charge points globally via Octopus Electroverse - all with a 4.8* rating on Trustpilot.
Octopus Electric Vehicles also specialises in salary sacrifice schemes: an employee benefit that makes driving a brand-new electric car even cheaper than the petrol or diesel equivalent through tax savings. Placing customer experience first, Octopus Electric Vehicles has designed the scheme to be simple for an employer to set up and run, and to support them at every step. Drivers can typically save between 30-40% every month on the cost of their EV, and at zero cost for an employer to set up. It’s great for their team, their hiring and retention, and for their sustainability goals.
More information can be found at www.octopusev.com
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