EV Savings Calculator
Compare fuel costs of an EV vs. Gas car. Calculate 5-year savings based on electricity rates.
Last reviewed
EV fuel savings compares the annual cost of powering a gas vehicle against an electric one at your actual driving distance and local prices. It's calculated as Annual Fuel Cost = (Miles ÷ Efficiency) × Price. For a gas vehicle: MPG and gas price. For the EV: mi/kWh and electricity rate.
Annual Fuel Savings
$1,166
5-Year Fuel Savings
$5,829
Cost Per Mile (EV)
$0.043
Drive Cycle
Energy Cost Delta
Annual Operational Comparison
Why EVs Cost Less to Fuel
An EV's electric motor converts roughly 85-90% of the electricity it draws into motion, while a gasoline engine wastes the large majority of the fuel's energy as heat rather than forward motion. That efficiency gap is the main reason the cost per mile for electricity usually comes out lower than gasoline, even before comparing electricity and gas prices directly.
Worked example. At the defaults above (12,000 miles/year, 25 MPG at $3.50/gallon, and an EV rated 3.5 mi/kWh at $0.15/kWh), the gas vehicle costs about $1,680/year to fuel and the EV about $514/year, for a savings of roughly $1,166 in year one and about $5,829 over five years (assuming prices don't change).
Prices move, so replace the defaults with your own. For reference, the U.S. average for regular gasoline was $4.48/gallon in the week of September 21, 2026 (EIA weekly gasoline prices). At that price the same gas vehicle costs about $2,150/year to fuel, and the savings rise to about $1,635 a year.
Where to find your own numbers. Your gas vehicle's MPG is on its window sticker or at fueleconomy.gov; use your actual highway/city mix if you know it. An EV's mi/kWh (or its inverse, kWh/100mi) is on the same site under "Efficiency." Your electricity rate is on your utility bill, usually listed per kWh. Use your marginal rate if your utility bills in tiers, since that's the rate an extra mile of charging actually costs.
For side-by-side fuel cost comparisons on specific vehicle models, see FuelEconomy.gov, the official U.S. government fuel economy and cost source.
EV Fuel Logic
Limitations. This compares fuel cost only. It doesn't include purchase price, financing, insurance, maintenance, or any tax credits or rebates. The federal EV purchase credit ended for vehicles acquired after September 30, 2025. Actual savings depend on your real driving pattern and where you charge.
EV Strategy Inquiries
?Are EVs actually cheaper to drive?
Usually, yes. While the purchase price may be higher, the cost per mile for electricity is typically well below gasoline at average U.S. rates. How much depends heavily on your local electricity price and the vehicle's efficiency, so it's worth running your own numbers above.
?What is EV Efficiency?
Usually measured in mi/kWh (miles per kilowatt-hour), the EV equivalent of MPG. A typical EV gets between 3.0 and 4.0 miles for every kilowatt-hour of energy drawn from its battery. You can find your model's EPA-rated efficiency on its window sticker or at fueleconomy.gov.
?Does home charging save more?
Yes. Public fast chargers (DCFC) commonly cost more per kWh than home electricity rates, which lengthens the payback shown here. This calculator assumes you're entering your actual charging cost, whichever mix of home and public charging that reflects.
?Does this include the federal EV tax credit?
No. This tool only compares fuel costs. The federal Clean Vehicle Credit (up to $7,500) ended for vehicles acquired after September 30, 2025 and isn't factored in here. Check current state or utility incentives separately if you're comparing purchase price.
About this calculator. Results are estimates for education and planning, based on the inputs you enter and the published formula described above. Everything runs in your browser; nothing you type is sent to us or stored. It is not financial, tax, legal or medical advice. Read the disclaimer and our methodology.
Spotted an error or an out-of-date figure? Tell us and we will correct it and note the change in the update log.