Is Charging Cheaper Than Gas? A Practical Guide to Fuel and Charging Expenses

Is Charging Cheaper Than Gas?

Compare electric-car charging costs with gasoline costs per mile, considering electricity price per kWh, gasoline price, energy consumption, fuel economy, and home/public charging mix. Learn how to calculate costs and compare options against personal priorities.

Direct answer: In most cases, charging an electric car is cheaper per mile than fueling a comparable gasoline car, especially when charging at home. However, the exact savings depend on local electricity and gasoline prices, your car's energy consumption or fuel economy, and how much you rely on public fast charging.

How to Calculate Cost per Mile for Each Fuel Type

To compare fairly, translate both costs into cost per mile (or per kilometer).

Electric Car Cost per Mile

Find your electricity price per kWh (check your utility bill) and your EV's energy consumption, usually expressed in kWh per 100 miles (or miles per kWh).

Formula: Cost per mile = (electricity price per kWh) × (energy consumption in kWh per mile).

Example: If electricity costs $0.15/kWh and your EV uses 0.30 kWh/mile (30 kWh/100 miles), cost per mile = $0.045.

Gasoline Car Cost per Mile

Find the gasoline price per gallon and your car's fuel economy in miles per gallon (mpg).

Formula: Cost per mile = gasoline price per gallon ÷ fuel economy (mpg).

Example: If gasoline costs $3.50/gallon and your car gets 30 mpg, cost per mile = $0.117.

In this example, the EV is about 62% cheaper per mile. But your numbers may vary.

Side-by-Side Comparison Table

Factor	Electric Car	Gasoline Car	How to Get Your Number
Fuel/energy price	Electricity price per kWh (e.g., $0.15/kWh)	Gasoline price per gallon (e.g., $3.50/gal)	Utility bill / local gas station
Consumption	Energy consumption (e.g., 0.30 kWh/mile)	Fuel economy (e.g., 30 mpg)	EPA rating or real-world data
Cost per mile	$0.045/mile	$0.117/mile	Formula above
Maintenance	Typically lower (no oil changes)	Typically higher	Estimate from ownership costs

Home and Public Charging Mix

Your home and public charging mix heavily influences EV fueling costs.

Home charging usually offers the cheapest electricity. In many regions, residential electricity rates are lower than public charging rates. If you can charge overnight at home, your cost per mile will be based on that home rate.

Public charging (especially DC fast charging) is often priced higher, sometimes comparable to gasoline on a per-mile basis. Frequent use of public fast chargers can reduce or eliminate your savings.

Example: If you charge 80% at home at $0.12/kWh and 20% at public fast chargers at $0.40/kWh, your effective electricity price is an average of (0.8 × $0.12) + (0.2 × $0.40) = $0.176/kWh. That raises your cost per mile accordingly.

To build a clear shortlist of vehicles, calculate cost per mile under your realistic charging mix, not just the best-case home charging scenario.

Comparing Options Against Personal Priorities

Cost per mile is one factor, but your personal priorities matter:

Driving patterns: Long daily commutes or frequent road trips may favor a more efficient EV or one with lower public charging costs, even if its purchase price is higher.
Home charging access: If you cannot charge at home, your effective electricity cost will be higher. In some areas, public charging plus parking fees may make an EV less economical than a hybrid.
Upfront cost: EVs often cost more to buy, but lower fueling and maintenance costs can offset that over time. Calculate total cost of ownership over your expected ownership period.
Environmental goals: If reducing emissions is a priority, you might accept slightly higher fueling costs for an EV, though generally EVs remain cheaper.

Distinguishing Missing Information from Genuine Drawbacks

When comparing listings or vehicles, pay attention to what is not stated. Missing information could be an oversight or a hidden drawback:

Missing electricity price assumption: If a comparison claims “EV costs $X per mile” without specifying the electricity price, treat it as an estimate. Ask what rate was used.
Missing charging mix: A claim based only on home charging may not apply to you. Check if public charging costs are included.
Missing vehicle efficiency: Real-world energy consumption can differ from EPA ratings. Look for owner-reported data.
Genuine drawback example: An EV that only supports slow AC charging may be cheaper to fuel but less practical for long trips, requiring costly public fast charging that negates savings.

Step-by-Step: Build Your Personal Cost Comparison

Gather your local electricity price (per kWh) and gasoline price (per gallon).
Estimate your annual miles driven.
For each EV candidate, find its energy consumption (kWh/100 miles or miles/kWh) and calculate home charging cost per mile.
For each gasoline car, find its combined mpg and calculate cost per mile.
Adjust EV cost per mile for your expected home/public charging mix by computing a weighted electricity price.
Multiply each cost per mile by annual miles to get annual fuel cost.
Add other costs (maintenance, insurance) to compare total running costs.

By following these steps, you can create a clear shortlist tailored to your situation without relying on generic claims.