EV vs gas calculator
Compare the fuel costs of electric and gas vehicles.
How the comparison works
Gas cost = (Miles ÷ MPG) × Gas price
EV cost = Miles × kWh/mile × Electricity rate
Most EVs use about 0.25–0.35 kWh per mile. The US average electricity rate is about $0.14/kWh for residential. Public fast charging typically costs $0.30–0.50/kWh.
Typical EV efficiency by vehicle type
Beyond fuel: total cost of ownership
Fuel savings are the most visible advantage, but EVs differ from gas cars in other cost areas too:
- 🔧 Maintenance is cheaper. No oil changes, fewer brake replacements (regenerative braking), no transmission service. EVs save $500–1,000/year in maintenance.
- 💰 Higher purchase price. EVs still cost more upfront, though the gap is shrinking. Federal tax credits (up to $7,500) help offset this.
- 🏠 Home charging is cheapest. If you can charge at home, your per-mile cost drops dramatically. Relying on public fast chargers narrows the savings.
- 📉 Depreciation varies. Some EVs depreciate faster than gas cars, which affects total cost. Research resale values for specific models.
When does an EV make financial sense?
An EV saves the most money when you drive a lot, have access to cheap home charging, and replace a gas-hungry vehicle. If you drive 15,000+ miles/year and pay average electricity rates, an EV can save $1,000–2,000/year in fuel alone compared to a 25 MPG gas car.
Use the calculator above with your actual numbers to see if the switch makes sense for your situation.