The Impact of Plug-In Electric Hybrid Vehicles (PHEV) on Electric Utilities

In mid 2008 the cost of a barrel of crude oil reached nearly $150, and gasoline prices spiked at $4.00/gallon. Petroleum prices have dropped recently, but most oil-industry experts expect that while the price of gasoline will fluctuate up and down on a seasonal basis, in the long run it will steadily rise. Growing global demand and a supply that will be, at best, static, mean prices will inevitably rise.