This story was originally published by Yale Climate Connections and is part of Cover climate nowa global journalistic collaboration that amplifies coverage of the climate story.
It was easy to project the low cost of charging electric vehicles in 2022, when gas prices were high and charging an EV approx. 70 percent cheaper than filling up at the pump. But now that the price of gasoline is falling below $3 a gallon, is it still cheaper to fill a car with electrons rather than gasoline? The answer is yes – a lot.
By far the cheapest and least polluting option is to get around by foot, bicycle or public transport. But if you need a personal vehicle, EVs cost less to run compared to a similar gasoline-powered vehicle, and they also have less emissions carbon pollution.
The map below shows the price of charging an EV expressed in “eGallons”, which is the cost of charging an EV with an amount equivalent to one liter of gasoline. In other words, the map shows how cheap gas would have to be to equal the cost of EV charging at home.
How much does EV charging cost?
In most parts of the country, charging an EV equates to a gas price of $1 to $2 per gallon. The national average is $1.41 per eGallon, which is less than half current petrol price of $3.09 (as of January 5, 2024).
Washington state and Louisiana have the lowest residential electricity rates, so they are the cheapest states to charge an EV, at less than one dollar per gallon equivalent. Electric driving is an especially good deal in Washington state because gas is over $4 a gallon, making EVs charge less than a quarter of the price of gas.
Hawaii and California have relatively expensive electricity prices, so charging an EV in those states costs significantly more than in other parts of the country. On the other hand, gasoline is also expensive in those places, so EVs are still cheaper to fuel.
Some details behind the math
- These comparisons were made by calculating a “gallon equivalent” for electric vehicles. This number is based on three factors: The average kilowatt-hour per mile of driving an EV, the average miles per gallon for a comparable gasoline-powered vehicle, and the price of electricity. Multiplying these three numbers together yields the cost to drive an EV the same distance as a traditional car would drive on one gallon of gasoline. The Department of Energy calls this number the “eGallon” and, for those interested, step through the mathematics.
- The car used for the comparison is the Hyundai Kona, which conveniently comes with either a petrol engine or an electric drivetrain. Fuel consumption data for both the petrol and electrical Konas is from FuelEconomy.gov. A comparison of the electric and gasoline models of the Ford F-150 pickup truck produced similar results.
- The cost of charging an EV depends on the price of electricity. The Energy Information Administration tracks the average residential price of electricity in every state. Gasoline prices fluctuate more quickly and by a greater margin than electricity rates, so the basis of comparison between the two types of vehicles is constantly changing.
- Several utility companies offer discounted EV charging during off-peak times, and of course charging an EV with your own solar panels is free. Those variables are not captured in this map.
- Public charging is usually more expensive than charging at home, and costs also vary with location, time of day, charging speed and free or discounted rates offered by some car manufacturers. To keep things simple, and because most EV owners charge at home, this analysis only uses home charging for the comparison.
- Read more about the prices of EVs and gasoline in “Driving with electricity is much cheaper than with petrol,” but note that gas was $4.67 a gallon when that article was written.
