Fuel prices & electric vehicles (EVs) - EP154

A wide-ranging conversation on petrol/gasoline prices and electric vehicles (EVs). The conversation explores the peculiar economic phenomenon that is Australia’s petrol price cycle. What drives it and how can consumers make it work for them? Show host Gene Tunny and his guest Tim Hughes then discuss the big issues around replacing petrol-powered vehicles with EVs. What does it mean for total electricity demand and what challenges do we face in adopting EVs?Links relevant to the conversationAustralian Financial Review article (paywalled) quoting Ampol CEO saying EVs have to be 50% cheaper before widespread take up: https://www.afr.com/companies/energy/ampol-profit-more-than-doubles-on-refining-revival-20220822-p5bbniRecent oil price news: https://www.reuters.com/business/energy/oil-prices-rise-after-saudi-says-opec-could-cut-output-2022-08-23/Brent crude oil price: https://www.abc.net.au/news/2022-08-25/can-lucky-country-australia-become-a-battery-mineral-superpower/101358050Australian Competition and Consumer Commissions (ACCC) monitoring of Australia’s petrol price cycle: https://www.accc.gov.au/consumers/petrol-diesel-lpg/petrol-price-cycles#petrol-prices-in-brisbaneInformation on Queensland’s electric superhighway: https://www.qld.gov.au/transport/projects/electricvehicles/super-highwayQueensland Government website on environmental benefits of EVs: https://www.qld.gov.au/transport/projects/electricvehicles/hitting-the-roadThe Grattan Car Plan which includes lots of useful data on EVs: https://grattan.edu.au/report/grattan-car-plan/John Freebairn on fuel excise in Australia: https://theconversation.com/what-is-petrol-excise-and-why-does-australia-have-it-anyway-179373Drive magazine article on impact of EVs on electricity use: https://www.drive.com.au/news/electric-cars-could-have-big-impact-on-australia-s-energy-supply/Australian Energy Market Commission (AEMC) paper on integrating EVs in the power grid: https://www.aemc.gov.au/news-centre/media-releases/integrating-electric-vehicles-power-systemEconomics Explored EP113 - Lithium and the new energy revolution with Lukasz Bednarski: https://economicsexplored.com/2021/11/13/ep113-lithium-and-the-new-energy-revolution-with-lukasz-bednarski/ABC News report As EVs drive a mining revolution, will Australia become a battery minerals superpower?: https://www.abc.net.au/news/2022-08-25/can-lucky-country-australia-become-a-battery-mineral-superpower/101358050Thanks to Josh Crotts for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Please consider signing up to receive our email updates and to access our e-book Top Ten Insights from Economics at www.economicsexplored.com. Also, please get in touch with any questions, comments and suggestions by emailing us at [email protected] or sending a voice message via https://www.speakpipe.com/economicsexplored. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.