古英語のhweol, wheelから、PIE*kwel, to turn, circleに由来し、語源はcycleと同じ。
The root wegh-, "to convey, especially by wheeled vehicle," is found in virtually every branch of Indo-European, including now Anatolian. The root, as well as other widely represented roots such as aks- and nobh-, attests to the presence of the wheel -- and vehicles using it -- at the time Proto-Indo-European was spoken. [Watkins, p. 96]Figurative sense is early 14c. Wheel of fortune attested from early 15c. Slang wheels "a car" is recorded from 1959. Wheeler-dealer is from 1954, a rhyming elaboration of dealer.