Cost
How Much You'll Actually Save on Fuel vs Gas
Quick Answer
EVs cost roughly $0.04–$0.05 per mile to fuel, compared to $0.13–$0.14 for a gas car. For a typical driver covering 12,000 miles per year, that's about $1,000–$1,200 saved annually.
Most people guess at EV fuel savings. But actually the math is straightforward — and the numbers are bigger than you think. Let's run the real cost per mile, compare it to your gas car, and figure out what you'd actually save.
The cost per mile math (no marketing involved)
Fuel savings is the easiest EV calculation to verify because the inputs are public: gas prices, electricity rates, fuel economy, and EV efficiency. Here’s how it breaks down.
Gas car cost per mile
Average fuel economy: 25–28 mpg for a typical sedan or small SUV.
Current U.S. gas price: ~$3.50/gallon.
Math: $3.50 ÷ 26 mpg = $0.13–$0.14 per mile.
EV cost per mile
Average EV efficiency: 3–4 miles per kWh.
U.S. average electricity: ~$0.16/kWh.
Math: $0.16 ÷ 3.5 miles/kWh = $0.04–$0.05 per mile.
The EV costs roughly one-third the per-mile fuel cost of a gas car. That ratio holds across most regions, though the exact savings shift based on local gas and electricity prices.
What that means for your annual budget
Per-mile numbers feel abstract. Annual totals make it real. Here’s what the savings look like at different driving levels:
10,000 miles/year: Gas costs ~$1,350. EV costs ~$450. Savings: ~$900/year.
12,000 miles/year (average): Gas costs ~$1,620. EV costs ~$540. Savings: ~$1,080/year.
15,000 miles/year: Gas costs ~$2,025. EV costs ~$675. Savings: ~$1,350/year.
20,000 miles/year (high commuter): Gas costs ~$2,700. EV costs ~$900. Savings: ~$1,800/year.
Over five years of ownership, the typical driver saves $5,000–$9,000 just on fuel. That’s before factoring in lower maintenance costs (EVs cost roughly one-third of what gas cars cost to maintain — no oil changes, fewer moving parts, regenerative braking).
Where home charging actually matters
The savings above assume home charging. That’s realistic because 80% of EV charging happens at home. But if your charging mix shifts toward public DC fast charging, the math changes.
Public fast-charging typically costs 20–30% more than home electricity rates, sometimes more depending on the network and location. If you’re road-tripping a few times a year, this barely dents the math. If you have no home access and rely on fast-charging weekly, your cost per mile could climb to $0.07–$0.09 — still cheaper than gas, but the gap narrows.
This is why the EV Readiness Check asks where you’ll charge most of the time. The savings number you should expect depends on it.
A real example: Jamie’s transition
Jamie went from a Toyota Prius to a Chevy Volt to a Chevy Bolt to a Chevy Equinox EV. The Prius already had great fuel economy (~50 mpg), so the savings story isn’t as dramatic as switching from a truck — but the math still worked.
A Prius driving 12,000 miles at $3.50/gallon costs about $840/year in fuel. The Equinox EV at home rates costs about $540/year. That’s $300/year saved on fuel — modest, but consistent. The bigger win was maintenance: no oil changes, fewer brake replacements (regenerative braking), fewer fluids. Jamie’s quote: “No regrets.”
If you’re coming from a 20-mpg SUV instead, the savings jump dramatically. Same 12,000 miles costs ~$2,100/year in gas. Switch to an EV and you’re saving $1,560/year on fuel alone.
When the savings shrink (be honest about it)
EV fuel savings aren’t universal. Here’s when the math gets less compelling:
Expensive electricity regions: In parts of California or Hawaii where rates hit $0.30–$0.40/kWh, cost per mile rises to $0.08–$0.11. Still cheaper than gas, but not by 3x.
Low-mileage drivers: If you only drive 5,000 miles/year, you’re saving ~$450/year. Real money, but it won’t justify the switch on fuel alone.
No home charging + heavy DCFC use: If 50%+ of your charging is at public fast chargers at premium rates, the savings can drop to $0.02–$0.04 per mile over gas.
Fuel savings are real and consistent for most drivers, but they’re not the whole story. Maintenance savings, resale value, and the fact that 94% of EV owners would buy another EV all factor in. To see what the numbers actually look like for your situation, run the EV Readiness Check.
Ready to find out if you’re EV ready?
Answer 5 quick questions about your charging access, daily mileage, and home setup. You’ll get a clear answer based on your actual situation — not assumptions.
Take the EV Readiness Quiz →