Cost Per Mile

Per-gallon and per-kWh prices cannot be compared directly because the units differ; per mile they can. An EV at 3 miles per kWh with power at 18 cents runs 6 cents a mile, while a 28 MPG gas car at $4.00 runs about 14 cents, and multiplying the gap by annual miles turns it into dollars. The figure is exquisitely local: a cheap-power state at 11 cents per kWh nearly halves the EV’s number, while DC fast charging at 45 cents can push it past the gas car’s.

Fuel is the narrow version; the full-ownership version adds depreciation (usually the largest item), insurance, and maintenance, which is how fleet operators and the IRS mileage rate think about it. Compare the fuel-and-maintenance side in the EV vs gas savings calculator.