Soaring fuel prices fueling the electric bike boom? HOVSCO US Analyzes the Trend.

April 29 17:00 2022
Soaring fuel prices fueling the electric bike boom? HOVSCO US Analyzes the Trend.

With the continuous rise of oil prices, many people have chosen to drive less or even not to drive, so bicycles have also become the travel mode of choice for everyone. Will such a phenomenon bring about a boom in the electric bike industry?

After the start of the Russian-Ukrainian war, gasoline prices around the world hit record highs, and many people turned to bicycles for relief. The national average unleaded petrol price rose 3.3 cents to a record 183.9 cents last week, according to the Australian Petroleum Institute. Economists warn that as international tensions escalate, “it won’t be long before people see $2.10 or $2.20 as the common price people will pay across Australia.” According to the Department for Business, Energy and Industrial Strategy, Energy & Industrial Strategy (opens in new tab), UK motorists saw their biggest rise in fuel prices in more than 18 years after Russia invaded Ukraine. Petrol could cost as much as £2.50 a litre and diesel could be as high as $3. Also, AAA(Opens in a new tab) reports that the national average price of a gallon of regular gasoline hit $4.17 earlier this month, the highest in the country. Calculated based on fuel costs alone, the average fuel consumption rate for a car in Australia is per A liter of gasoline for 7.5 kilometers (or 13.4 liters per 100 kilometers) costs $2 per liter, which equates to 27 cents per kilometer.People are looking for more affordable ways to get around town, whether it’s carpooling, public transportation, electric vehicles, or , Bicycles. Bikes don’t require fuel per kilometer, maybe a banana for extra energy.

Cost of driving a car

The average cost of operating a medium sized car in Australia is $13,782. This figure was calculated earlier this year, when Australian gasoline costs were at an average of $1.43 a litre, significantly below current prices.This includes registration, loan repayments, maintenance, fuel, insurance, tolls, but not parking, which for city workers can easily add an additional $12 a day, multiplied by 226 working days a year, which equals an additional $2,712 per year.An analysis of recent German studies put the total cost of car ownership at $1M over 50 years, 36 percent of the average driver’s income.

Cost of riding an Ebike

For comparison purposes, one assumes that a commuter bike will likely cost $1,000. A well-maintained bike should last at least 10 years, which equates to an annual cost of $100. People need at least helmets ($80), locks ($100), pumps ($40) and lights ($100). For both years, the cost is $260 per year. Bikes require regular maintenance, and parts eventually wear out. Tires every two years, chains and wheels every two years, sprockets every two years, miscellaneous about $100 a year, labor about $150 a year, and maintaining a bike about $430 a year. $200 per year is a reasonable fee for clothing that is not normally required (light raincoat, gloves, sneakers/cycling shoes, shorts, etc.).

ADVANTAGES OF AN ELECTRIC BIKE VS A CAR

Here are a few great things about owning an electric bike.

Fun to Use

Using an e-bike can help riders feel more connected to their surroundings. Using an electric bike, one can explore local neighborhoods, cities or mountain views. Additionally, e-bikes allow cyclists to enjoy nature’s best gift, which is something people don’t usually do when they spend a lot of time in the car.

Save Money

Compared to cars, electric bikes can save people a lot of money in the long run. Despite the initial cost, people find e-bikes more affordable when they add registration fees, insurance, tires, maintenance, repairs, and depreciation. Using e-bikes may not completely replace car travel, but they will not only reduce the time people spend in the car, but also the amount they spend in the car each year.

Keeps Healthy

Using an e-bike is like riding a regular bike, which means people get the same physical benefits. Electric bikes are powered by pedal assist, so the rider can still get a good workout. People can add pedal assist to prevent themselves from smelling bad, while still making healthy choices for the body if people have somewhere to go and don’t want to smell sweat during vigorous exercise.

Dodge Traffic

Using e-bikes means people no longer have to worry about traffic jams. Using e-bikes not only allows cyclists to move through traffic faster and have their own bike lanes, it also gives people more routes to their destinations. As people are no longer limited to just taking roads and highways, they may find that in some cases they can shorten the distance between where they are and where they need to go.

Environmentally-Friendly

Using an e-bike is first and foremost an environmental decision. Cars — even electric cars — are great, but they emit a lot of pollution. By using e-bikes, people can not only save money, but also reduce their carbon footprint and make people more environmentally conscious.

About HOVSCO E-Bikes US

HOVSCO E-Bikes US is a well-known innovative manufacturer and retailer of high-end and mid-range outdoor sports equipment. Their line of e-bikes are powerful and of great quality. Excellent customer support, high quality, fast delivery and competitive prices are reasons to choose Hovsco.

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Company Name: HOVSCO E-Bikes US
Contact Person: Wendy
Email: Send Email
Country: United States
Website: https://www.hovsco.com/

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