Average cost of ‘fuel’ is 60% lower for electric vehicles than ICE

0


We all know electric vehicles are more efficient than internal combustion vehicles, but how does that translate into fuel and energy costs?

The US DOE’s Office of Energy Efficiency & Renewable Energy recently published an interesting comparison between states using the eGallon tool.

This is an interesting metric because it compares the cost of a gallon of gasoline with the cost of driving an average electric vehicle (home charging) the same distance as an average gasoline vehicle (see sources for details of the methodology).

At the national level, it turns out that EVs have 60% less energy costs than ICE ($ 1.16 vs. $ 2.85). In other words, you can travel more than twice the distance for the same amount.

“Based on a national average price of $ 2.85 for a gallon of regular gasoline and $ 1.16 for an eGallon, the average fuel savings for an EV driver was about 60%.”

In all states, the cost of energy for electric vehicles is lower, but it varies widely from market to market. The highest difference of 72% ($ 0.89 vs. $ 3.13) was noted in Washington:

“Washington State had the biggest difference between gasoline and electricity costs, at $ 3.13 per gallon of regular gasoline and $ 0.89 per eGallon, which represents fuel savings. around 72% for electric vehicle drivers. “

In California – the largest electric vehicle market in the United States – the difference is 50% ($ 1.86 vs. $ 3.73).

external_image

It seems the smallest difference is in Hawaii – just 15% ($ 2.65 vs. $ 3.10). This is quite unfortunate because Hawaii is one of the perfect places for electric vehicles due to the limited range needs on the islands.

external_image

“* EGallon methodology

Source: US Department of Energy, eGallon: Compare Driving Costs with Electricity, March 31, 2021.


Share.

Leave A Reply