How Much Would You Save Driving an Electric Car?
Compare annual fuel costs between your current gas car and an EV. Enter your miles driven, MPG, gas price, and local electricity rate.
The average EV driver saves $900–$1,500 per year in fuel vs a comparable gas car.
~$700
average annual fuel savings by switching from gas to electric
$7,500
maximum federal EV tax credit under the Inflation Reduction Act
3–7 yrs
typical payback period for the EV price premium over equivalent gas car
EV vs gas: the real numbers
The per-mile math
At $0.15/kWh, a 30 kWh/100mi EV costs $0.045/mile to fuel. A 28 MPG gas car at $3.50/gal costs $0.125/mile — nearly 3x more per mile. Over 12,000 miles that's ~$960 in savings annually.
Electricity rates change the equation
In states with cheap electricity (Washington, Idaho — ~$0.10/kWh), EVs are dramatically cheaper. In Hawaii ($0.38/kWh), the gap shrinks considerably. Always use your actual local rate.
Beyond fuel: total cost of ownership
EVs also have lower maintenance costs — no oil changes, fewer brake jobs (regenerative braking), no transmission service. Some studies estimate $1,000–$2,000 less in annual maintenance vs a comparable ICE vehicle.
How the EV vs Gas Comparison Works
Annual gas cost = (miles ÷ MPG) × gas price per gallon. Annual EV cost = (miles ÷ 100) × kWh per 100 miles × electricity rate. The difference is your annual fuel savings.
This calculator uses home-charging rates. If you frequently use public DC fast chargers, your actual EV costs will be higher. For the most accurate result, use your real local electricity rate from your utility bill.