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Electric Car Costs / Prices

The National Average Cost of Fuel for an Electric Vehicle is about 60% Less than for a Gasoline Vehicle

Vehicle Technologies Office
Transportation Analysis Fact of the Week #1186

Electric vehicles are more efficient than internal combustion vehicles, but fuel cost comparisons can be complicated due to differences in the units of measure. To address this, the Department of Energy developed the eGallon tool. The eGallon represents the cost of driving an electric vehicle (EV) the same distance a gasoline-powered vehicle could travel on one (1) gallon of gasoline.* Based on a national average price of $2.85 for a gallon of regular gasoline and $1.16 for an eGallon, the average fuel cost savings for an EV driver was about 60%. The state of Washington had the greatest difference in gasoline versus electricity costs, with $3.13 per gallon of regular gasoline and $0.89 per eGallon, which yields a fuel cost savings of about 72% for EV drivers.

Image EVgo

 *eGallon Methodology

Source: U.S. Department of Energy, eGallon: Compare the costs of driving with electricity, March 31, 2021.

Fact #1186 Dataset

 
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