The Expert Podcast

So here's what it all comes down to the big question is what costs more to charge or to fill up a gas or an electric vehicle especially in this day and age with the very high gasoline prices the question comes up what does it cost more to drive per mile gasoline or electric vehicle and obviously electric vehicle isn't free you have to charge it up and you have to pay either your electric bill at your house or pay for charging station so it's not a free driving experience but let's take a look at this chart and see what it breaks down to and the way that this was done is they figured out what it cost to have a hundred miles of range whether it's gasoline or it's an electric vehicle equivalent and they did it a couple different cities but u.s national average they broke down the cost for this month and they went back actually two years.

The blue line here is gas and the yellow line here is electricity and as you can see as of january 22 for gasoline to go 100 miles it costs 14.8 cents and it's been you know 12 the 14 range really for the last year back in 2020 it was under 10 7 8 but most of the time it's between 10 and 12 10 and you know 13 what about electricity well electricity has remained much more stable in about the five dollar range right now just over five dollars and this used sources for electricity rates and gas prices from the u.s bureau of labor statistics and u.s energy information administration so this is a good breakdown obviously you're gonna have to pay some money either way electricity isn't free.

Whether it's a charging station or at your house but the cost for an ev is less than half of the cost for gasoline almost a third at this point and gas is likely going to go up electricity electricity normally stays closer to the same trading range in addition there's ways to offset some of this electricity costs as you've seen in other videos many electrical utilities have incentives and rebates for electric vehicles that may actually offset this to a lower amount under five dollars you may be able to supplement some of your electricity with solar on your house.

Again there's pros and cons to electric and gas vehicles it's beyond just the cost of driving electric vehicles currently are more money and purchase price they may have slightly higher insurance and there's less availability you know 99 percent of the vehicles on the road right now are gas vehicles where it's one to two percent or for electric so as these things change the driving cost to refuel so to speak an electric vehicle will be more important but using this chart as a guide it shows you that the electric range cost per hundred miles is significantly lower than gasoline.