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Electric vehicles are gaining a larger share of the automotive market, while becoming more affordable. Environmental awareness has become a key driving force in EV adoption among consumers, and businesses are realizing they can attract these drivers by offering EV charging stations. Some government programs such as the California Zero Emission Vehicle (ZEV) rule are requiring automakers to offer more environmentally friendly vehicles. The emissions reduction potential of EVs is significant because they can run with electricity generated by wind turbines or solar panels. Even if an EV relies on a power grid where most electricity comes from fossil fuels, there is a reduction of emissions: power plants use fossil fuels much more efficiently than the combustion engines on cars.

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Oil prices continued their upward trend for the fourth consecutive day on Tuesday on expectations that the US Federal Reserve will cut interest rates for the first time in more than ten years to support the growth in demand for fuel in the country.

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Crude prices jumped more than 1% after Yemeni separatists carried out a drone attack on a Saudi Arabian oil facility during the weekend. Brent crude climbed 78 cents to $59.42 a barrel, while US crude gained 64 cents to trade at $55.51 per barrel, reported Reuters.