EV vs Gas Cost Comparison Calculator

About the EV vs Gas Cost Comparison Calculator

The fuel cost difference between an electric vehicle and a gasoline car is substantial. At average US rates, an EV costs about $0.04 per mile in electricity, while a gas car costs about $0.12 per mile in fuel — a 65–70% saving.

Over a typical 15,000-mile year, that's roughly $600 in electricity vs. $1,875 in gasoline — saving $1,275 annually. Over a 7-year ownership period, fuel savings alone can total $8,000–$12,000.

This calculator compares the fuel/energy costs of your specific EV and gas car, factoring in your local electricity rate, gas price, driving miles, and vehicle efficiency ratings. It's the most fundamental comparison when evaluating an EV purchase.

When This Page Helps

Fuel savings are the largest ongoing cost advantage of EVs. This calculator quantifies exactly how much you'd save per month and per year, helping you make an informed decision and understand the payback on any EV price premium.

How to Use the Inputs

1. Enter the EV's efficiency in mi/kWh (or use EPA range ÷ battery kWh).
2. Enter your electricity rate per kWh.
3. Enter the gas car's MPG rating.
4. Enter the current gas price per gallon.
5. Enter your annual driving miles.
6. Compare per-mile, monthly, and annual costs.

Example Calculation

Tips & Best Practices

• Most EVs average 3.0–4.0 mi/kWh in real-world driving.
• Time-of-use rates can reduce EV fuel cost by 30–50%.
• Gas prices are more volatile than electricity prices — EV costs are more predictable.
• Include maintenance savings too: EVs save $500–$1,000/year in maintenance.
• Federal and state EV tax credits reduce the purchase price premium.
• Solar panels can reduce your effective electricity cost to near zero.

Fuel Cost Comparison by Vehicle Class

Compact: EV $40/mo vs Gas $130/mo (save $90). Midsize: EV $50/mo vs Gas $155/mo (save $105). SUV: EV $65/mo vs Gas $175/mo (save $110). Truck: EV $80/mo vs Gas $230/mo (save $150). Based on 1,250 miles/month at average rates.

Regional Variations

EV savings are highest where gas is expensive and electricity is cheap (Pacific NW: $1,800+/year savings). Savings are smallest where gas is cheap and electricity is expensive (some Southern states: $800/year). There's no US state where gas is cheaper per mile than home EV charging.

Long-Term Projections

Gas prices have been volatile ($2–$5/gallon in recent years). Electricity prices are more stable (rising ~2%/year). Over a 10-year ownership, an EV is virtually guaranteed to have lower total energy costs, even if electricity rates increase modestly.

Total Cost of Ownership

Fuel savings are the largest single factor, but total cost of ownership includes purchase price, depreciation, insurance, maintenance, and repairs. EVs win on fuel and maintenance but may have higher insurance costs and depreciation uncertainty. Overall TCO increasingly favors EVs, especially with tax credits.

Frequently Asked Questions

• How much cheaper is EV charging than gas?

  At average US rates, EV charging costs about 65–70% less per mile than gasoline. An EV at $0.04/mile vs. gas at $0.125/mile saves $0.085/mile. At 15,000 miles/year, that's $1,275/year. The gap widens when gas prices rise.

• Does the EV price premium offset fuel savings?

  The average EV costs $5,000–$10,000 more than equivalent gas models. At $1,275/year fuel savings plus $500–$1,000 maintenance savings, payback is 3–5 years. Federal tax credits ($7,500) can bring payback to 1–2 years.

• What if electricity is expensive in my area?

  Even at $0.25/kWh (among the highest US rates), EV cost is $0.07/mile — still cheaper than gas at $0.125/mile. Only at extreme rates above $0.40/kWh does EV charging approach gas costs per mile.

• What about using public fast charging only?

  If you rely entirely on DCFC at $0.40/kWh, your cost is $0.11/mile — nearly equal to gas. Home charging delivers the biggest savings. If you can't charge at home, public L2 at $0.15–$0.25/kWh is still much cheaper than gas.

• Does this include maintenance savings?

  This calculator covers fuel/energy costs only. EVs additionally save $500–$1,000/year in maintenance (no oil changes, fewer brake replacements, no transmission service). Total savings are typically $1,800–$2,500/year including both fuel and maintenance.

• How does EV efficiency vary by model?

  Compact EVs (Hyundai Ioniq 6, Tesla Model 3): 3.5–4.5 mi/kWh. Mid-size SUVs (Model Y, Mustang Mach-E): 3.0–3.5 mi/kWh. Large SUVs/trucks (Rivian R1S, Ford F-150 Lightning): 2.0–2.5 mi/kWh. More efficient EVs save more per mile.