That’s because you live with scarce and expensive taxi service. I know plenty of people in Dubai who use taxi or uber/Careem for their daily commute and I have done so in periods too.
Total cost of ownership not always lower, as the depreciation is faster, insurance and repairs costs more.
Cheaper than gas? Depends on your electricity source.
In my country all taxi are LNG-powered and are cheaper/same per km as electric cars.
People help to drive the cost down by sharing taxis on common routes.
We have great public transport network, but only if one is lucky enough to live close by to well known cities.
Otherwise, you might have a few bus connections through the day if at all, and they might require walking down the village down to the closest stop a few km away.