Tesla, a leading U.S. electric vehicle company, has started to rallly again due to rising stock prices. Tesla plunged this year as the U.S. Fed entered the rate hike mode, but it has been soaring due to a large influx of low-priced technology stocks recently.
Will Tesla be able to rise further? In other words, do you mind if I buy after you now?
For now, the market is working in Tesla’s favor. Yahoo Finance, a U.S. economic portal, reported on the 27th that demand for electric vehicles is expected to increase further as oil prices continue to rise due to the prolonged war in Ukraine.
Gasoline prices in the U.S. hit a record high of $4 per gallon as oil prices continued to rise since the war against Ukraine.
The average gasoline price in the United States last week was $4.32. This is twice the average price in 2020.
As a result, the cost of maintaining a gasoline car is three times higher than that of maintaining an electric car.
Experts agree that using electric cars is not only cheaper in terms of cost, but also much more stable because electricity has less price fluctuations.
As a result, Yahoo Finance predicted that demand for electric vehicles will increase further. According to a survey conducted by Gallup, a polling company, one-third of respondents said they would consider purchasing electric vehicles if gasoline prices continued to rise.