Gas vs Electric Car Cost Calculator

With electric vehicle prices coming down and gas prices remaining volatile, more drivers than ever are asking a fundamental question: would switching to an EV actually save me money on fuel? Our gas vs electric car cost calculator answers that question with real numbers based on your specific driving habits and local energy prices. Unlike vague estimates, this tool gives you a precise annual, monthly, and five-year comparison so you can make an informed decision.

In this guide, we explain the formulas behind the gas vs electric car cost calculator, walk through real-world worked examples, break down EV efficiency metrics, and compare total ownership costs beyond just fuel. All data is sourced from the U.S. Department of Energy, EPA, and U.S. Energy Information Administration.

What Is a Gas vs Electric Car Cost Calculator?

A gas vs electric car cost calculator is an online tool that compares the fuel-related operating costs of a gasoline-powered vehicle against an electric vehicle (EV) over the same distance. By inputting your annual mileage, your gas car's MPG, the price of gasoline, your EV's energy consumption rate, and your electricity rate, the calculator produces a side-by-side cost comparison.

This comparison is useful for:

• Purchase decisions. When considering whether to buy an EV, fuel savings are one of the most significant financial factors. Knowing your potential annual savings helps justify the higher upfront cost of many EVs.
• Budget planning. Current EV owners can estimate their energy costs just as gas car owners estimate fuel expenses. The gas vs electric car cost calculator makes both calculations in one place.
• Environmental awareness. Fuel cost savings often correlate with reduced emissions. Understanding the financial incentive reinforces the environmental benefit.
• Lease vs. buy analysis. When comparing lease offers on gas and electric models, knowing the fuel cost differential helps you compare the true monthly cost of each option.

How to Compare Gas and Electric Car Costs

The gas vs electric car cost calculator uses two simple formulas—one for each vehicle type:

Gas Vehicle Annual Fuel Cost

Electric Vehicle Annual Energy Cost

Savings Calculation

These formulas assume consistent driving patterns and energy prices. In practice, electricity rates vary by time of day (off-peak charging is cheaper), and gas prices fluctuate seasonally. The gas vs electric car cost calculator gives you a baseline comparison using your current rates.

Understanding EV Efficiency: kWh per 100 Miles

Just as gas cars are rated in miles per gallon (MPG), electric vehicles are rated in kilowatt-hours per 100 miles (kWh/100mi). This metric tells you how much electricity the vehicle consumes to travel 100 miles. Lower numbers mean better efficiency.

According to the U.S. Department of Energy, typical EV efficiency ratings include:

• Small/efficient EVs (e.g., Tesla Model 3, Hyundai Ioniq 6): 25–28 kWh/100mi
• Mid-size EVs (e.g., Tesla Model Y, Chevrolet Equinox EV): 28–32 kWh/100mi
• Large EVs and trucks (e.g., Ford F-150 Lightning, Rivian R1T): 40–50 kWh/100mi
• Fleet average: Approximately 30 kWh/100mi across all EVs

The EPA also provides an MPGe (miles per gallon equivalent) rating, which converts electricity consumption into a gasoline-equivalent figure for easier comparison. One gallon of gasoline contains 33.7 kWh of energy, so an EV using 30 kWh/100mi achieves approximately 112 MPGe—far more efficient than any gas-only vehicle.

Gas Prices vs Electricity Rates: The Cost Comparison

The fuel cost advantage of electric vehicles comes down to a fundamental price difference per unit of energy:

• National average gas price: $3.30–$3.80 per gallon (fluctuates significantly by state and season)
• National average electricity rate: $0.13–$0.17 per kWh for residential customers, according to the U.S. Energy Information Administration (EIA)

What makes electricity prices more stable and predictable than gas:

• Less volatility. Electricity rates are regulated by state utility commissions and change slowly (typically once or twice per year). Gas prices can swing 20–30% in a single month due to crude oil market fluctuations.
• Off-peak pricing. Many utilities offer time-of-use rates where overnight electricity costs 30–50% less than daytime rates. Since most EV charging happens at home overnight, smart charging can significantly reduce costs.
• Solar integration. Homeowners with solar panels can charge their EVs with self-generated electricity, reducing the per-kWh cost to near zero after the solar system investment is recouped.

However, public DC fast charging is significantly more expensive than home charging, typically $0.30–$0.60 per kWh. If you rely primarily on public charging, the cost advantage of an EV shrinks considerably. Our gas vs electric car cost calculator uses your home electricity rate by default, which represents the most common charging scenario.

Beyond Fuel: Total Cost of Ownership Factors

While our gas vs electric car cost calculator focuses on fuel and energy costs, the full financial picture includes several other factors:

Maintenance Costs

EVs have significantly lower maintenance costs because they have fewer moving parts—no oil changes, no transmission fluid, no spark plugs, no timing belts. According to a study by the U.S. Department of Energy, EV maintenance costs approximately $0.06 per mile compared to $0.10 per mile for gas vehicles. Over 12,000 miles per year, that is a $480 annual maintenance savings.

Insurance

EV insurance premiums tend to be 10–25% higher than comparable gas vehicles, primarily because EVs have higher purchase prices and repair costs (especially battery-related damage). This partially offsets fuel and maintenance savings.

Depreciation

EV depreciation has historically been steeper than gas vehicles in the first few years, though this gap is narrowing as the used EV market matures and battery longevity improves. Some popular models like Tesla retain value comparably to gas equivalents.

Tax Credits and Incentives

Federal tax credits of up to $7,500 for new EVs (and up to $4,000 for used EVs) can significantly reduce the effective purchase price. Many states offer additional rebates, reduced registration fees, HOV lane access, and other incentives. These credits effectively accelerate the payback period for the higher upfront cost of an EV.

Average Annual Fuel Costs: Gas vs Electric by Vehicle Type

The following table compares estimated annual fuel costs for common vehicle categories, based on 12,000 miles per year, $3.50/gallon gas, and $0.14/kWh electricity:

As the table shows, the less fuel-efficient your current gas vehicle, the greater the potential savings from switching to electric. Truck and SUV owners stand to save the most because their gas costs are highest while EV efficiency, though lower than sedans, still provides substantial savings.

Environmental Impact: Emissions Comparison

Beyond the financial comparison, the gas vs electric car cost calculator highlights the environmental benefits of EVs. According to the EPA:

• Average gas car: Produces approximately 4.6 metric tons of CO2 per year (based on 12,000 miles at average fuel economy).
• Average EV: Produces approximately 1.5–2.5 metric tons of CO2-equivalent per year (including power plant emissions), depending on the local electricity grid mix.
• Emissions reduction: Switching from gas to electric typically reduces transportation-related emissions by 50–70%, even accounting for electricity generation.

In states with cleaner electricity grids (heavy hydroelectric, wind, solar, or nuclear), the emissions advantage is even greater. In states that rely heavily on coal for electricity, the gap narrows but EVs still produce fewer total emissions than gas vehicles in nearly every U.S. state.

Frequently Asked Questions