ST. LOUIS – The average price of an electric vehicle hit $66,000 in June in the U.SA.

That’s an all-time high. Electric vehicle prices are rising at a faster rate than gas-powered cars. EV prices rose 54.3% percent in July compared to a year prior.

Prices for gas-powered cars rose 10.1% during the same time period. Low inventory, the global chip shortage, and high gas prices are some of the reasons for the price hike.