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Electric Vehicle Fuel Savings Calculator

Compare gas vs electric vehicle fuel costs. Estimate annual savings, cost per mile, and long-term fuel savings by switching to an EV.

EV Fuel Savings Worksheet

Gas Vehicle

$

Electric Vehicle

$
Estimated savings $1,095.80/yr
Monthly savings$91.32
Annual savings$1,095.80
5-year savings$5,479.00
10-year savings$10,958.00

Annual Fuel Costs

Gasoline
$1,625.00/yr
$135.42/mo
500.00 gal/yr
Electricity
$529.20/yr
$44.10/mo
3,780.00 kWh/yr
Cost per mile: Gas $0.116 vs EV $0.038
Popular EV Efficiency Ratings
VehiclekWh/100miUse
Tesla Model 325
Tesla Model Y27
Chevrolet Bolt EV28
Hyundai Ioniq 624
Ford Mustang Mach-E30
BMW iX33
Rivian R1S35
Nissan Leaf30
Kia EV628
Mercedes EQS31

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How Fuel Savings Are Calculated

This calculator compares the annual fuel costs of a gas-powered vehicle with an electric vehicle based on your inputs:

  • Gas cost: Annual miles / mpg × price per gallon
  • EV cost: (Annual miles / 100) × kWh per 100mi × price per kWh
  • Savings: Gas cost - EV cost

Average US Fuel and Electricity Costs

MetricValueSource
Average gas price$3.30/gallonEIA (2025 avg)
Average electricity rate$0.16/kWhEIA residential avg
Average miles driven/year14,263FHWA
Average gas car MPG27.5 mpgEPA fleet average
Average EV efficiency28 kWh/100miEPA estimates

Factors That Affect EV Savings

  • Electricity rates: Off-peak charging (often overnight) can cost 50% less than peak rates
  • Solar panels: Home solar can reduce charging costs to near zero
  • Public charging: DC fast chargers cost 2-4x more than home charging
  • Climate: Cold weather reduces EV range and efficiency by 20-40%
  • Driving style: Highway driving uses more energy; city driving benefits from regenerative braking

Total Cost of Ownership

Fuel savings are just one part of EV ownership costs. Other factors to consider:

  • Purchase price: EVs often cost more upfront, but federal tax credits ($7,500) and state incentives help offset this
  • Maintenance: EVs have fewer moving parts — no oil changes, transmission fluid, or timing belts
  • Insurance: EV insurance can be 10-20% higher due to higher repair costs
  • Depreciation: Varies by model; some EVs depreciate faster than gas equivalents
  • Home charger installation: Level 2 charger installation costs $500-$2,000

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Frequently Asked Questions

How much can I save by switching to an EV?

Most drivers save $800 to $1,500 a year on fuel by switching from a gas car averaging 28 mpg to an EV using 27 kWh per 100 miles. Savings grow with higher gas prices and more miles, and shrink with expensive electricity. Public fast charging at $0.30 to $0.60 per kWh can erase most of the gap.

Are EVs cheaper to fuel than hybrids?

Usually yes. A hybrid getting 50 mpg with gas at $3.50 a gallon costs about $0.07 per mile. An EV using 27 kWh per 100 miles at $0.14 per kWh costs about $0.04 per mile. The gap narrows when electricity rates are high, when charging is mostly public, or against a very efficient hybrid.

What is MPGe?

MPGe, or miles per gallon equivalent, puts EV efficiency on the same scale as gas cars. The EPA treats 33.7 kWh of electricity as equal to the energy in 1 gallon of gasoline. An EV rated at 120 MPGe uses as much energy per mile as a gas car getting 120 mpg, about four times a 30 mpg car.

How many miles does the average American drive per year?

The average American drives about 14,263 miles per year, according to the Federal Highway Administration. The figure varies by state, age and whether a driver lives in an urban or rural area. Annual mileage is the biggest driver of EV fuel savings, because the cost gap per mile is multiplied by every mile driven.