Energy · Brussels, Belgium · October 22, 2026

Record fuel prices speed Europe's shift to electric cars

Reported by 1 outlet · under-reported · first reported Oct 22, 8:00 AM ET

Total car sales in Europe rose 10.2% year on year in September, data from the European Automobile Manufacturers' Association showed. Record gasoline and diesel prices are accelerating purchases of electric and hybrid vehicles, while registrations of conventional cars fell by double digits in key markets.

Why it matters

Faster electric vehicle adoption reduces European demand for imported oil.

Background

The EU plans to end sales of new combustion-engine cars by 2035. Fuel prices have climbed during the Middle East conflict.

The story so far

1. Oct 22Record fuel prices speed Europe's shift to electric cars
2. Oct 28EU natural gas prices top €100 for first time since 2022
3. Oct 29Eleven EU countries to release 42.6 million barrels of oil

Follow the whole story →

Sources

• OilPrice ↗Oct 22, 8:00 AM ET

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