- An average EV driver saves $3,780 to $7,420 in fuel costs over 5 years compared to an equivalent gas vehicle, depending on vehicle class.
- At the national average electricity rate, an EV costs approximately $0.05 per mile to fuel versus $0.125 per mile for the average gas car—60% less.
- EV fuel savings are greatest in states with low electricity rates and high gas prices, such as Washington state.
- Higher-mileage drivers save proportionally more: a 15,000 mi/yr driver saves $1,785 more over 5 years than a 10,000 mi/yr driver.
01 Cost per Mile: EV vs Gas
An average EV driver saves $3,780 to $7,420 in fuel costs over 5 years compared to an equivalent gas vehicle, depending on vehicle class. The fuel cost comparison between EVs and gas cars starts with cost per mile. For gas vehicles, this is calculated as the price per gallon divided by MPG. For EVs, it's the electricity cost per kWh multiplied by the vehicle's energy consumption rate (kWh per mile).
DOE/EPA, FuelEconomy.gov: fuel cost calculation methodology for gas and electric vehicles| Metric | Gas Vehicle | Electric Vehicle |
|---|---|---|
| Efficiency | 27.2 MPG (fleet avg) | 3.3 mi/kWh (typical) |
| Energy price | $3.30/gallon | $0.165/kWh (national avg) |
| Cost per mile | $0.125 | $0.050 |
| Annual cost (12K mi) | $1,456 | $600 |
| Annual savings (EV) | — | $900 |
At national average rates, an EV costs 60% less per mile to fuel than the average gas vehicle. This translates to roughly $900 in annual savings at 12,000 miles per year.
02 Five-Year Savings by Vehicle Class
Savings vary by the gas vehicle being replaced. Replacing a less efficient gas SUV or truck yields larger savings than replacing an efficient sedan, because the gas vehicle's baseline fuel cost is higher for less efficient vehicles. We don't have EPA data breaking out EV efficiency by vehicle class, so the EV side of this comparison uses the same national-average 3.3 mi/kWh rate for every row—only the gasoline vehicle's efficiency varies by class.
EPA/DOE, Fuel Economy Guide database, gasoline-fueled vehicles, model years 2024–2025, unweighted average comb08 by EPA vehicle class; DOE/EPA national-average EV efficiency (FuelEconomy.gov)| Comparison | Gas Cost/yr | EV Cost/yr | Annual Savings | 5-Year Savings |
|---|---|---|---|---|
| Midsize car (29.2 MPG) vs EV | $1,356 | $600 | $756 | $3,780 |
| Compact car (28.2 MPG) vs EV | $1,404 | $600 | $804 | $4,020 |
| Small SUV/crossover (26.1 MPG) vs EV | $1,517 | $600 | $917 | $4,585 |
| Midsize/large SUV (19.6 MPG) vs EV SUV | $2,020 | $600 | $1,420 | $7,100 |
| Pickup truck (19.0 MPG) vs EV truck | $2,084 | $600 | $1,484 | $7,420 |
The five-year savings range from roughly $3,780 for midsize car replacements to $7,420 for pickup truck replacements. Drivers replacing the least efficient gas vehicles see the greatest benefit from switching to electric. Note that midsize cars edge out compact cars slightly in this data (29.2 vs. 28.2 MPG)—a reminder that "smaller class" doesn't always mean "more efficient" once real-world model mix is considered.
Estimate your vehicle's driving cost using official EPA fuel economy data.
Use the Calculator03 Savings Vary by State
Both electricity rates and gas prices vary dramatically by state, which significantly affects EV savings. States with cheap electricity and expensive gas offer the best savings, while states with expensive electricity and cheap gas narrow the gap. The states below are the ones where our source data has verified 2024 state-level gasoline prices (most states in our data use a national-average gas price placeholder instead).
EIA-861 Table 5A (2024 residential electricity rates by state); EIA state-level Regular All Formulations retail gasoline prices (2024 annual average)| State Example | Electricity Rate | Gas Price | EV Annual Savings | 5-Year Savings |
|---|---|---|---|---|
| Washington | $0.119/kWh | $4.07 | $1,417 | $7,085 |
| Florida | $0.141/kWh | $3.22 | $950 | $4,750 |
| California | $0.320/kWh | $4.53 | $897 | $4,485 |
| New York | $0.244/kWh | $3.30 | $612 | $3,060 |
| Texas | $0.149/kWh | $2.86 | $757 | $3,785 |
| Massachusetts | $0.294/kWh | $3.23 | $401 | $2,005 |
Washington state offers the highest EV savings in this sample because of its low electricity rates (predominantly hydropower) combined with above-average gas prices. Massachusetts, with high electricity rates, sees the smallest savings among these states. For a full 50-state ranking, see our EV charging cost by state article.
04 How Driving Distance Affects Savings
Fuel savings scale directly with miles driven. Higher-mileage drivers benefit more from switching to an EV because the per-mile savings apply to every additional mile.
Calculated from per-mile cost differential applied to various annual mileage levels| Annual Miles | Gas Cost (27.2 MPG) | EV Cost | Annual Savings | 5-Year Savings |
|---|---|---|---|---|
| 8,000 | $971 | $400 | $571 | $2,855 |
| 10,000 | $1,213 | $500 | $713 | $3,565 |
| 12,000 | $1,456 | $600 | $856 | $4,280 |
| 15,000 | $1,820 | $750 | $1,070 | $5,350 |
| 20,000 | $2,426 | $1,000 | $1,426 | $7,130 |
A 20,000 mi/yr driver saves $7,130 in fuel over 5 years—about 2.5 times the savings of an 8,000 mi/yr driver ($2,855). Long-distance commuters and high-mileage drivers see the strongest economic case for EVs on fuel cost alone.
05 Important Caveats
Fuel savings are only one component of the total cost of EV ownership. Several other factors affect the overall financial picture:
- Purchase price. EVs generally have higher sticker prices than equivalent gas vehicles, though federal and state tax credits can offset some or all of this premium.
- Home charging vs public charging. The savings above assume home charging at residential rates. Public DC fast charging can cost $0.30–$0.50 per kWh, significantly reducing savings.
- Battery degradation. EV battery capacity declines over time, which can slightly increase energy consumption per mile as the vehicle ages.
- Maintenance savings. EVs have lower maintenance costs (no oil changes, less brake wear) which add to the total savings beyond fuel alone.
- Depreciation. EV resale values vary widely by model and market conditions, affecting total cost of ownership.
06 Data Sources
- DOE/EPA: FuelEconomy.gov – Electric Vehicle Efficiency Data. fueleconomy.gov
- EIA: Form EIA-861 Annual Electric Power Industry Report, Table 5A – Average Monthly Bill, Residential. eia.gov/electricity
- EIA: Weekly Retail Gasoline and Diesel Prices, national and state-level. eia.gov
- EPA: "The 2025 Automotive Trends Report" (EPA-420-R-26-001). epa.gov/automotive-trends
- DOE: Alternative Fuels Data Center. afdc.energy.gov