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Has gas demand gone down since hybrids and electric cars came out?
I’m interested in saving money on gas, so I’ve been looking into buying a hybrid or electric car. With how high gas prices have been lately and electric cars becoming more accessible, I’m wondering if demand for gas has gone down overall with the popularity of hybrid and electric cars?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
While there is likely a correlation between increased demand for
electric and hybrid cars
, the fluctuation in demand for gas depends on many more factors than electric car sales. For many Americans, even with substantial
tax credits
and incentives, buying a new electric car is still not as affordable as a standard gas-powered car. Demand for gasoline can also decrease as a result of high prices. With gas prices soaring, some Americans are choosing to drive less overall or opt for alternative methods of transportation.
One way to save money when buying a hybrid or electric car is to get the best possible deal on
car insurance
with the Jerry
app. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance. Jerry will even help you cancel your old policy.
To ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal, so you’re always getting the coverage you want at the best price.
MORE: How eco-friendly are electric vehicles?
View full answer
- Gregory R.
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