EV vs Gas: Total Cost Comparison

Whether an electric car is cheaper than a gas car comes down to a handful of numbers that are different for every household: what you pay for electricity and gasoline, how much you drive, where you charge, what the two specific cars cost to buy and insure, and how long you keep them. A blanket answer is not useful. A side-by-side calculation with your own numbers is, and it takes about 15 minutes.

The rest of this guide walks through how to put a number on each.

Gas car

Fuel cost per mile = price per gallon ÷ MPG.

At $3.50 per gallon and 30 MPG combined, that is about 11.7 cents per mile.

Electric car

Electricity cost per mile = price per kWh × (kWh per 100 miles ÷ 100).

The EPA label lists consumption in kWh per 100 miles. Many EVs fall roughly between 25 and 40 kWh per 100 miles depending on size and efficiency. Look up the exact figure for any model on fueleconomy.gov (opens in a new tab) or our research pages.

At $0.16 per kWh and 30 kWh/100 miles, that is 4.8 cents per mile. Add roughly 10% to 15% for charging losses (energy lost between the wall and the battery), and you are at about 5.3 to 5.5 cents per mile.

Where you charge changes everything

• Home charging at a residential rate is usually the cheapest. Time-of-use plans with off-peak rates can cut it further. Check your utility bill for your real per-kWh price including delivery charges.
• Workplace charging may be free or cheap.
• Public DC fast charging typically costs several times the home rate per kWh and can approach or exceed gas cost per mile in some areas. Some networks also charge idle or session fees.

A driver who charges almost entirely at home sees much larger savings than one who relies on fast chargers. If you cannot charge at home or work, run the numbers at your local fast-charging price before deciding.

EVs skip a long list of gas-car maintenance: oil and filter changes, spark plugs, timing belts, transmission fluid on many models, exhaust and emissions parts. Regenerative braking does much of the slowing, so pads and rotors often last longer.

EVs still need:

• Tires and rotations (often more frequent attention because of weight).
• Cabin air filters and wiper blades.
• Brake fluid on a time-based schedule.
• Battery coolant service on many models (check your owner's manual; some are lifetime, others have long intervals).
• 12-volt battery replacement.
• Suspension and steering parts as they wear.

For out-of-warranty repairs, the big unknown is the high-voltage battery. Most manufacturers warrant it for around 8 years or 100,000 miles against failure or excessive capacity loss, with some states requiring more. Buying used? Read our used EV battery health guide.

For typical gas-car service costs to compare against, see average car maintenance cost.

Incentives

The federal clean vehicle tax credits for new and used EVs ended for vehicles acquired after September 30, 2025. Some states, utilities and local programs still offer rebates, reduced registration fees, charger rebates or lower off-peak electricity rates. Search the Department of Energy's Alternative Fuels Data Center (opens in a new tab) for programs where you live, and confirm terms with the program before you buy.

Depreciation

EV resale values have historically been more volatile than comparable gas cars, influenced by new-model price cuts, changing incentives, improving battery technology and buyer concern about battery health. Gas models vary too. Use a conservative resale estimate for both, and model it with our depreciation calculator. A longer ownership period reduces the impact of early depreciation on either car.

• Insurance. Get real quotes for both specific models. EVs can cost more to insure because of repair costs, but the gap varies by model and insurer. See what affects car insurance rates.
• Registration. Many states charge an annual EV fee, and some charge one for hybrids. Check your state's DMV.
• Home charger. A standard 120-volt outlet (Level 1) adds only a few miles of range per hour, which suits low-mileage drivers. A 240-volt Level 2 charger is faster; the cost of the unit plus installation depends heavily on your electrical panel and the distance to the parking spot. Get an electrician's quote.

Every figure below is an assumption for illustration. Replace them with your own.

Assumptions: 12,000 miles a year for 6 years; gas at $3.50/gal; home electricity at $0.16/kWh with 90% of charging at home and 10% at a fast charger at $0.45/kWh; gas car 30 MPG; EV 30 kWh/100 miles plus 12% charging losses.

In this example, the EV saves about $2,200 in running costs over six years. Whether that makes it cheaper overall depends on the purchase price difference minus the resale value difference. If the EV costs $5,000 more and both lose the same share of value, the gas car wins on this scenario. If the prices are close, or the driver goes 20,000 miles a year, the EV pulls ahead.

That sensitivity is the point: mileage, home charging and purchase price decide the outcome far more than any single average.

An EV tends to win when you:

• Charge mostly at home or at work.
• Drive a lot of miles each year.
• Live where gasoline is expensive relative to electricity.
• Keep cars a long time, spreading the purchase premium over more miles.
• Can buy at a price close to the comparable gas model, including used EVs.

A gas car or hybrid tends to win when you:

• Cannot charge at home and would rely on fast charging.
• Drive few miles each year.
• Face high EV registration fees and insurance quotes.
• Would pay a large purchase premium for the EV.

A conventional hybrid is often the middle option: much better MPG than a gas-only car, no charging needed, and a smaller price premium.