Rising fuel prices linked to the conflict in Iran are driving a sharp global increase in demand for electric vehicles (EVs). Dealers are reporting faster sales and higher prices for second-hand EVs, with some struggling to maintain stock. Growth is evident across major markets, including the US and China, as well as in emerging economies such as Vietnam. Analysts say that repeated energy shocks, including Russia’s invasion of Ukraine, are accelerating a longer-term shift away from fossil fuels. European countries and parts of Asia have also seen strong increases in EV adoption, while Australia reports rising consumer interest due to cheaper running costs, as well as the government’s recent announcement that it has only about one month’s supply of fuel in reserves. Although future demand will depend on oil prices, the trend may well represent a lasting change as consumers seek more stable and affordable transport options.