Electric Vehicle Cost Comparison Calculator
Compare fuel costs between an electric vehicle and a gas-powered car over your ownership period. Use this when deciding whether switching to an EV will save you money given your local electricity and gas prices.
About this calculator
The calculator isolates the fuel-cost difference between a gas vehicle and an EV over a set number of years. For the gas vehicle, annual fuel cost = (annualMiles / gasMpg) × gasPrice. For the EV, annual energy cost = (annualMiles / evEfficiency) × electricityRate, where evEfficiency is miles per kWh. The total fuel savings formula is: Savings = ((annualMiles / gasMpg) × gasPrice × years) − ((annualMiles / evEfficiency) × electricityRate × years). A positive result means the EV costs less to fuel over the ownership period. Note that this isolates fuel costs; you should separately account for purchase price differences, maintenance, and available tax incentives to get the full picture.
How to use
Suppose you drive 12,000 miles per year, gas costs $3.50/gallon, your gas car gets 30 mpg, electricity costs $0.13/kWh, your EV gets 4 miles/kWh, and you plan to own the vehicle for 5 years. Gas fuel cost = (12,000 / 30) × $3.50 × 5 = 400 × $3.50 × 5 = $7,000. EV energy cost = (12,000 / 4) × $0.13 × 5 = 3,000 × $0.13 × 5 = $1,950. Fuel savings = $7,000 − $1,950 = $5,050 over 5 years. Enter these values and the calculator returns your total fuel savings instantly.
Frequently asked questions
How much money can I save on fuel by switching to an electric vehicle?
Fuel savings depend on your local gas and electricity prices, how many miles you drive, and the efficiency of both vehicles. In the example above, a driver doing 12,000 miles per year saves roughly $5,050 in fuel over five years. Because electricity is generally cheaper per mile than gasoline, most EV drivers see significant savings, especially in regions with low electricity rates or high gas prices.
What is EV efficiency in miles per kWh and how does it affect the calculation?
EV efficiency measures how many miles the vehicle travels per kilowatt-hour of electricity consumed, analogous to MPG for gas cars. A typical EV achieves 3–4 miles/kWh; a more efficient model might reach 4.5 miles/kWh. Higher efficiency means you consume less electricity per mile, directly reducing your annual energy cost in the formula: EV cost = (annualMiles / evEfficiency) × electricityRate. Entering an accurate efficiency figure for your specific model gives the most reliable savings estimate.
Does this calculator include maintenance savings and tax incentives for EVs?
This calculator focuses solely on the fuel-cost difference between an EV and a gas vehicle. EVs typically have lower maintenance costs because they have fewer moving parts — no oil changes, fewer brake replacements due to regenerative braking, and no transmission service. Additionally, federal and state incentives can reduce the EV purchase price by thousands of dollars. For a complete cost-of-ownership comparison, add these figures separately to the fuel savings this calculator provides.