Electricity usually costs less than gasoline per mile. The size of the saving depends on where you charge and what you pay.
In this article
- Home charging
- Public fast charging
- Maintenance
Home charging
At typical home prices, an EV costs around 4 to 5 cents per mile. A gas car at 30 mpg and $3.50 per gallon costs about 12 cents.
| Fuel source | Approx. cost per mile | Notes |
|---|---|---|
| Home electricity (15¢/kWh) | About 4¢ | Cheapest |
| Public Level 2 | About 6 to 8¢ | Varies |
| DC fast charging | About 10 to 15¢ | Convenience premium |
| Gas car, 30 mpg | About 12¢ | At $3.50/gal |
Figures are typical ranges and vary by car, climate and driving style.
Public fast charging
DC fast charging often costs two to three times more than home electricity. At the most expensive stations, the cost per mile can approach that of a gas car.
Cheaper to run does not always mean cheaper to own.
Maintenance
EVs skip oil changes and have fewer moving parts. Tires, cabin filters and brake fluid still need regular attention.
Worth doing
- Compare your local electricity rate
- Check time-of-use plans
- Estimate yearly mileage
- Include insurance in the comparison
Practical tip
Insurance for EVs can be higher. Get a quote before assuming the savings.
Bottom line
With home charging, savings are clear. Relying on fast chargers narrows them.
Specifications, prices and rules change. Confirm current details with the manufacturer or the relevant authority before you buy or repair.
