How much cheaper is charging an EV than buying gas?

At recent national averages, roughly 6 cents a mile for home charging (18 cents per kWh at 3 mi/kWh) versus about 14 cents for a 28 MPG gas car at $4 a gallon, so a 12,000-mile year saves near $1,000 in fuel alone. Local prices move the answer: cheap-power states widen the gap, DC fast charging can close it entirely.

Is an EV worth it financially?

Run the two numbers this calculator gives you: the total running-cost savings over your horizon, against the EV's price premium after incentives. Premium smaller than savings means yes on money alone; otherwise the decision rests on the non-financial reasons. High-mileage drivers with home charging clear the bar most easily.

What does it cost to charge an EV at home?

Miles divided by efficiency, times your rate: 12,000 miles at 3 mi/kWh is 4,000 kWh, about $720 a year at the 18-cent national average. Time-of-use plans with overnight rates commonly cut that meaningfully, which is a lever gas cars simply do not have.

Do EVs really save on maintenance?

Generally yes: no oil changes, no exhaust or transmission service, and regenerative braking stretches brake life, against somewhat faster tire wear from the extra weight. Several hundred dollars a year is a common estimate, and this calculator leaves the figure editable rather than promising a study's number for your car.

Why does fast charging change the math so much?

DC fast-charging networks price per kWh at levels that can run double or triple a home rate, pushing the EV's cost per mile toward or past the gas car's. Drivers who charge mostly at home keep the full advantage; apartment dwellers relying on public charging should run this calculator with the network's price.

EV vs Gas Savings Calculator

Compare EV and gas costs: cost per mile at your electricity and gas prices, annual and five-year savings, and the purchase premium those savings justify.

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Total savings over the horizon

$6,971.43

Savings per year: $1,394.29
Fuel savings per year: $994.29
EV cost per mile: $0.06
Gas cost per mile: $0.14
Annual charging cost: $720.00
Annual gasoline cost: $1,714.29
EV price premium these savings repay: $6,971.43

Cumulative savings by year

Quick answer: With the example inputs this page loads by default, the headline result (Total savings over the horizon) comes to $6,971.43. Compare EV and gas costs: cost per mile at your electricity and gas prices, annual and five-year savings, and the purchase premium those savings justify. Change any input above and every figure updates instantly in your browser.

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Fact-check: results on this page are verified against an independently coded reference oracle that covers all 106 calculators on this site. See how we verify .

An EV's running-cost edge is a division problem: electricity price over miles per kWh versus gas price over MPG. At recent national averages (about 18 cents per kWh residential and $4 gasoline), a typical EV runs about 6 cents a mile against 14 cents for a 28 MPG gas car, roughly $1,000 a year at 12,000 miles before maintenance savings. This calculator runs your local prices.

What this result means

The five-year total is the number to hold against the EV's purchase premium: if the premium after incentives is smaller than the savings, the EV wins on money alone. The result is extremely sensitive to where you charge, since home charging at residential rates drives the default math while DC fast charging can cost per mile what gasoline does, so heavy road-trippers should raise the electricity price. Gas prices cut the other way: every dollar per gallon moves annual savings by hundreds of dollars at typical mileage. Energy prices float; check your utility bill and AAA rather than trusting any default. Not advice.

Assumptions

Cost per mile is price over efficiency on each side: electricity price divided by miles per kWh, and gas price divided by MPG. Both energy prices are held flat over the horizon (no inflation or price-path forecast), so the totals are today's-prices scenarios.
Defaults are editable national averages as of mid-2026: residential electricity near 18 cents per kWh (EIA Electric Power Monthly) and gasoline near $4 per gallon (EIA weekly retail data; AAA tracks the daily figure). Both move constantly and vary widely by state, so your utility rate and local pump price beat any default. Charging-network prices for DC fast charging often run 2 to 3 times the residential rate.
The maintenance differential is a single editable annual figure; several hundred dollars a year in favor of the EV is a common planning estimate, reflecting no oil changes and less brake wear (regenerative braking), while EVs can cost more in tires. Set it to 0 to compare energy only.
Deliberately not modeled: purchase prices and incentives, depreciation and resale, insurance differences, home-charger installation, battery degradation, EV registration surcharges some states levy, and charging efficiency losses (a real-world 5 to 10 percent on home charging). The premium-justified output is the honest bridge: it says how much extra the EV could cost before the running savings stop covering it.
This is an estimate for educational purposes only, not car-buying advice.

Key terms

Definitions for the terms this calculator uses, in our finance glossary .

How it works

The comparison is two divisions and a multiplication.

Cost per mile. The EV’s cost per mile is your electricity price divided by its efficiency: $0.18 per kWh at 3 miles per kWh is 6 cents a mile. The gas car’s is the pump price divided by MPG: $4.00 at 28 MPG is 14.3 cents a mile. Everything downstream is that gap.

Annual and horizon savings. Each side’s per-mile cost times annual miles gives the yearly charging and gasoline bills; the difference is the fuel savings. An editable maintenance differential (EVs skip oil changes and most engine service; regenerative braking stretches brake life; tires wear somewhat faster) adds on top. The annual total times the horizon, with both energy prices held flat, is the headline figure, and it doubles as the EV purchase premium those savings would repay: if the EV costs less than that much extra after incentives, the running costs cover the difference within the horizon.

All arithmetic runs in decimal.js with results rounded to cents once, at the end.

Worked example

12,000 miles a year, an EV at 3 mi/kWh with power at $0.18/kWh, a 28 MPG gas car with gas at $4.00, $400 a year in maintenance savings, five years.

EV: 6.0 cents a mile, $720 a year of charging.
Gas: 14.29 cents a mile, $1,714.29 a year of fuel.
Fuel savings $994.29, plus $400 maintenance = $1,394.29 a year.
Over five years: $6,971.43, the premium the EV could carry and still break even.

Scope and limitations

Fuel and maintenance only, at today’s prices. Purchase prices, incentives, depreciation, insurance, home-charger installation, battery degradation, state EV registration fees, and charging losses (a real-world 5 to 10 percent on home charging) are outside the model. The defaults are national averages that move constantly and vary widely by state; your utility rate and local pump price beat any default, and DC fast charging often costs 2 to 3 times the residential rate, which can erase the EV’s edge. This is an estimate for education, not car-buying advice.

Sources

Frequently asked questions

How much cheaper is charging an EV than buying gas?: At recent national averages, roughly 6 cents a mile for home charging (18 cents per kWh at 3 mi/kWh) versus about 14 cents for a 28 MPG gas car at $4 a gallon, so a 12,000-mile year saves near $1,000 in fuel alone. Local prices move the answer: cheap-power states widen the gap, DC fast charging can close it entirely.
Is an EV worth it financially?: Run the two numbers this calculator gives you: the total running-cost savings over your horizon, against the EV's price premium after incentives. Premium smaller than savings means yes on money alone; otherwise the decision rests on the non-financial reasons. High-mileage drivers with home charging clear the bar most easily.
What does it cost to charge an EV at home?: Miles divided by efficiency, times your rate: 12,000 miles at 3 mi/kWh is 4,000 kWh, about $720 a year at the 18-cent national average. Time-of-use plans with overnight rates commonly cut that meaningfully, which is a lever gas cars simply do not have.
Do EVs really save on maintenance?: Generally yes: no oil changes, no exhaust or transmission service, and regenerative braking stretches brake life, against somewhat faster tire wear from the extra weight. Several hundred dollars a year is a common estimate, and this calculator leaves the figure editable rather than promising a study's number for your car.
Why does fast charging change the math so much?: DC fast-charging networks price per kWh at levels that can run double or triple a home rate, pushing the EV's cost per mile toward or past the gas car's. Drivers who charge mostly at home keep the full advantage; apartment dwellers relying on public charging should run this calculator with the network's price.

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By Sam Sage Last reviewed July 2026.