After peaking in June, gas prices have fallen almost daily. But that hasn’t deterred interest in electric vehicles. Prices for used EVs in particular are outpacing their gas-powered counterparts. 

The average price of a used electric vehicle in July was 54.3% higher than a year earlier, compared with a 10.1% increase for vehicles powered with gas, according to a new study from

The Nissan Leaf topped the study’s list of used EVs with the largest year-over-year price increases. An average used Leaf now costs $28,787, or 45% more, than a year earlier, while a used Chevrolet Bolt EV now costs $28,291, or 29.3% more, than last July.

The Tesla Models S, X and 3 rounded out the top five used EVs with the highest price increases.

“Until recently, mainstream electric vehicles typically depreciated rapidly due to improvements in battery technology and a lack of demand in the secondary market,” iSeeCars Executive Analyst Karl Brauer said in a statement. “However, soaring gas prices, improvements in public charging infrastructure and a lack of inventory for new EVs have led to soaring demand for used electric vehicles.”