EV vs Gas Savings Calculator

The debate between electric vehicles and gas-powered cars often comes down to one question: which one costs less to operate? The answer, for the vast majority of American drivers, is the EV, and it is not even close.

Fuel Costs: Electricity vs Gasoline

The average American drives approximately 12,000 miles per year. At the national average gas price of $3.50 per gallon and a typical sedan fuel economy of 27 MPG, that translates to roughly $1,556 per year in gasoline costs. The same 12,000 miles driven in an average EV achieving 3.5 mi/kWh at $0.16/kWh costs approximately $549 per year in electricity. That is an annual savings of over $1,000 just on fuel.

The savings grow even more dramatic for drivers who commute longer distances or own less fuel-efficient vehicles. A Ford F-150 owner averaging 22 MPG and paying $3.50/gallon spends about $1,909 per year on gas. Switching to an electric truck or SUV could cut that cost by 60% to 70%.

Maintenance Cost Advantage

Beyond fuel savings, EVs have significantly lower maintenance costs. Electric motors have far fewer moving parts than internal combustion engines. There are no oil changes, no transmission fluid, no timing belts, no spark plugs, and no exhaust system components to replace. According to the U.S. Department of Energy, EV maintenance costs average roughly $0.06 per mile compared to $0.10 per mile for gas vehicles. Over 12,000 miles per year, that is an additional $480 in annual savings.

Estimates based on 12,000 miles/year, $3.50/gal, 27 MPG gas car, 3.5 mi/kWh EV at $0.16/kWh. Maintenance figures from DOE and AAA data.

Price per Mile: The Bottom Line

When you combine fuel and maintenance, the average gas car costs roughly $0.16 to $0.19 per mile to operate, while a comparable EV costs $0.05 to $0.07 per mile. That three-to-one cost advantage compounds year after year. Over a typical 5-year ownership period, an EV driver can save $6,600 to $8,000 in operating costs compared to a gas vehicle. Charge at home with an affordable Level 2 charger and your savings grow further by avoiding expensive public charging fees.

Your EV charging costs depend heavily on where you live. Electricity rates across the United States range from as low as $0.10/kWh in states like Louisiana and Oklahoma to over $0.30/kWh in Hawaii and parts of New England. This variation means your annual EV fuel cost could differ by hundreds of dollars depending on your state.

Here is a quick comparison for 12,000 miles driven at 3.5 mi/kWh:

*Gas cost based on 27 MPG at $3.50/gal. Actual gas prices vary significantly by state.

Even in the most expensive electricity states, driving an EV still costs less than gasoline. To calculate your exact savings based on your local rates, use the calculator above or visit our EV Charging Cost Calculator for a detailed per-session cost breakdown.

The upfront cost of an EV is often higher than a comparable gas car, but the total cost of ownership (TCO) tells a very different story. When you factor in fuel savings, reduced maintenance, and available tax credits, many EVs reach a break-even point surprisingly quickly.

Breaking Down the TCO

Let us look at a real-world example comparing a Toyota Camry (gas) to a comparable Chevrolet Equinox EV over 5 years and 60,000 miles:

Estimates based on $3.50/gal, 27 MPG, $0.16/kWh, 3.45 mi/kWh. Tax credit assumes eligibility. Charger cost reflects an affordable Level 2 unit under $300 or a portable EV charger.

Home Charger: A One-Time Investment

A home EV charger is a one-time purchase that pays for itself within months. A quality Level 2 charger costs between $200 and $500, and it saves you $500 to $1,200 per year compared to relying on public DC fast charging. At the average driver's fuel savings of $84 per month compared to gas, even a $500 charger pays for itself in under 6 months. Use the calculator above to find your exact break-even point by entering your charger cost.

Maintenance Savings Add Up

The maintenance advantage of EVs is substantial over a vehicle's lifetime. No oil changes (saving $120 to $200 per year), dramatically reduced brake wear thanks to regenerative braking (saving $100 to $200 per year), and no transmission servicing. Over 10 years, these savings can exceed $5,000 to $8,000. The only significant EV-specific maintenance item is eventual battery replacement, but modern EV batteries are warranted for 8 years or 100,000 miles and typically last well beyond that.