Rising petrol prices are starting to change buyer behaviour, with new data from NRMA Insurance showing a clear lift in interest from Australians exploring electric vehicles.
According to NRMA Insurance, EV insurance quote requests increased by 15 per cent in the first two weeks of March compared with the same period in February 2026. Quote requests were also up 56 per cent compared with March last year.
The data suggests more drivers are looking at EVs as a practical way to reduce exposure to volatile fuel costs, particularly as petrol prices place more pressure on household and business budgets.
NRMA Insurance Head of Automotive Research Shawn Ticehurst said the spike in quote activity points to a growing focus on long-term running costs.
“We’re seeing more people request EV insurance quotes, which suggests drivers are exploring EVs as a way to reduce their exposure to volatile fuel prices,” said Ticehurst.
Fuel costs may be shifting the conversation
The latest data indicates a change in sentiment since NRMA Insurance’s 2024 Changing Gears report, which found only 20 per cent of Australians planning to buy a car within five years were considering an EV.
At the time, the biggest barriers were upfront purchase price, range anxiety and charging times.
Now, sustained fuel price pressure appears to be prompting more motorists to reconsider the total cost of ownership, particularly as more EV models enter the market and become easier to compare against petrol and diesel alternatives.
That shift is also being reflected in broader market sales data.
According to figures from the Federal Chamber of Automotive Industries and the Electric Vehicle Council, February 2026 delivered the highest EV
