Are you trying to decide between a fuel-efficient gasoline car and an electric vehicle (EV) to save money on your commute? Many drivers are weighing the pros and cons, especially with fluctuating gas prices and increasing awareness of environmental impact. Let’s break down the real costs of driving both types of vehicles, using current average prices to see which option truly offers better fuel economy and saves you more money in the long run.
To make a fair comparison, we’ll look at a typical gasoline car and a typical EV, using average data updated for Fall 2024.
Gasoline Car (Car A)
- Fuel Economy: 24.4 mpg (miles per gallon – average for U.S. cars)
- Average Gas Price: $3.16 per gallon (Recent NYS average price)
Electric Vehicle (EV – Car B)
- Efficiency: 2.89 miles per kWh (kilowatt-hour – average for U.S. EVs)
- Average Electricity Price: 25.2 cents per kWh (most recent average for NYS)
Now, let’s calculate the cost to drive 300 miles in each car.
For Car A (gasoline car), driving 300 miles would cost:
(300 miles / 24.4 mpg) $3.16/gallon = $38.85*
For Car B (EV), driving 300 miles would cost:
(300 miles / 2.89 miles/kWh) $0.252/kWh = $26.16*
In this scenario, driving an EV for 300 miles is significantly cheaper, saving you over $12 compared to a gasoline car.
Let’s extend this comparison to 15,000 miles, which is slightly more than the average annual mileage for American drivers.
Annual cost for Car A (gasoline):
(15,000 miles / 24.4 mpg) $3.16/gallon = $1,942.62*
Annual cost for Car B (EV):
(15,000 miles / 2.89 miles/kWh) $0.252/kWh = $1,307.96*
As you can see, based on these average figures, switching from a typical gasoline car to a typical EV could save you approximately $634.66 per year, or about 33% on fuel costs. This highlights the potential for substantial savings with EVs, even when considering the Best Fuel Economy Gas Cars available on the market.
Compare Fuel Costs for Your Specific Cars
Want to see how your current or potential car models compare? You can use online resources to calculate the estimated fuel costs for specific gasoline and electric vehicles. A helpful tool is the online calculator provided by ChargeVC. Alternatively, you can use a customizable Google Sheet that we’ve created. Simply make a copy (“File > Make a copy”) to personalize it with your own data.
Both tools allow you to input specific details such as local gas prices, electricity costs, and the fuel efficiency (MPG for gas cars, miles per kWh for EVs) of different models. You can find up-to-date gasoline prices on websites like AAA. Fuel economy data for various vehicles is available from the Department of Energy. For electricity prices, refer to your local energy provider or resources like the NYS energy website.
To give you an idea of EV efficiency, here are some examples of miles per kWh for different EV models:
| Model | Miles per kWh |
|---|---|
| Tesla Model 3 (2021) | 4 |
| Hyundai Ioniq Electric (2021) | 4 |
| Hyundai Kona Electric (2021) | 3.7 |
| Tesla Model S (2021) | 3.45 |
| Nissan Leaf (2021) | 3.13 |
| Ford Mustang Mach-E (2021) | 2.94 |
| Porsche Taycan (2021) | 2.44 |
| Audi E-Tron (2021) | 2.33 |
Overcoming EV Adoption Challenges
While the cost savings of EVs are clear, some drivers are still hesitant to switch due to concerns about range anxiety – the fear of running out of battery charge. This is understandable, but it’s worth noting that most daily trips are relatively short. Studies indicate that only about 2% of car trips exceed 50 miles, while most EVs offer a range of 150-300 miles on a single charge.
Expanding the charging infrastructure is key to easing these concerns. Programs like Central Hudson’s EV Make Ready program are working to increase the availability of charging stations by providing financial incentives to businesses and municipalities for installing EV chargers. This not only supports wider EV adoption but also benefits businesses by attracting customers.
Home Charging and Incentives for EV Owners
For EV owners, home charging is a convenient and often cheaper way to refuel. Central Hudson’s EV ChargeSmart Program is designed to encourage off-peak charging, which is more cost-effective and beneficial for the electric grid. By charging during off-peak hours (after 7 p.m. and before 2 p.m.), EV owners can take advantage of incentives and contribute to a more resilient and sustainable energy system. Check the EV ChargeSmart page for details on current incentives and eligibility.
Explore EV Practicality with Interactive Tools
To further illustrate the practicality of EVs for longer journeys, resources like Central Hudson’s EV Tour interactive map highlight destinations and nearby EV charging locations. This type of tool helps demonstrate that EVs are becoming increasingly viable for all types of driving needs.
In conclusion, when comparing the best fuel economy gas cars to electric vehicles, EVs often emerge as the more cost-effective option in terms of fuel/energy costs. While the initial purchase price and range anxiety can be considerations, the long-term savings on fuel and growing charging infrastructure make EVs an increasingly attractive choice for drivers looking to maximize their fuel economy and reduce their driving expenses.
