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EU Could Save Drivers Up to $87 Billion Through Fuel-Saving Measures, T&E Says

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Four transport measures could save European Union drivers up to 74.4 billion euros ($87.13 billion) annually during the current oil price shock, Transport & Environment said Tuesday.

The Brussels-based NGO estimated cost savings anywhere between 30 billion euros and 74.4 billion euros.

It said the US-Israel conflict involving Iran pushed oil prices to levels last seen during the 2022 energy crisis as the Strait of Hormuz remained blocked.

Filling a 55-liter diesel tank costs nearly 30 euros more by mid-April compared with prices before the conflict began.

T&E outlined four short-term measures from the International Energy Agency's transport oil demand plan that governments could quickly deploy to reduce fuel consumption and household costs.

T&E said remote working policies could save drivers between 7 billion euros and 21.1 billion euros annually by reducing car oil use by 2% to 6%.

Reducing motorway speed limits by 10 kilometers per hour could lower annual fuel costs by 3.5 billion euros to 21.1 billion euros while cutting car oil consumption by 1% to 6%, the NGO said.

T&E said shifting more drivers toward public transportation could save between 3.5 billion euros and 10.5 billion euros annually through a 1% to 3% reduction in car oil use.

Increasing car sharing and eco-driving could deliver the largest savings, cutting annual fuel costs by 17.6 billion euros to 28.1 billion euros while reducing oil use by 5% to 8%, according to the analysis.

The NGO said governments could implement these measures quickly without major spending or long development timelines as Europe faces mounting energy security concerns.

T&E said electric vehicles remain the only long-term solution that can permanently shield drivers from future oil market shocks and fuel price spikes.

T&E urged policymakers to expand remote work, tighten motorway speed enforcement, invest more in public transport and promote eco-driving, tire pressure maintenance and car-sharing while accelerating electric vehicle adoption.

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