- EVs convert most of the energy they draw from the grid into motion; gasoline engines lose most of theirs as heat.
- Charging at home at typical US residential rates usually costs far less per mile than gasoline.
- Regular public fast charging can cost as much per mile as a fuel-efficient gas car.
- Maintenance, insurance and depreciation also shape the total cost of ownership.
The two formulas
Gas car cost per mile = price per gallon ÷ miles per gallon
EV cost per mile = price per kWh × kWh per mile × charging loss factor
EV efficiency is often listed as kWh per 100 miles, or as miles per kWh. A car rated at 30 kWh per 100 miles uses 0.30 kWh per mile. Charging also loses some energy between the wall and the battery; we use a factor of 1.12 to cover roughly 10–15% losses, which is a reasonable planning figure for home charging.
Worked example
We will use electricity at $0.17/kWh, close to the 2025 US residential average reported by the US Energy Information Administration, and gasoline at $3.50 a gallon. The EIA's mid-2026 outlook projected a US average of around $3.64 for 2026, and local prices vary widely.
Gas car at 30 mpg: $3.50 ÷ 30 = 11.7 cents per mile
EV at 0.30 kWh per mile, charged at home: 0.30 × 1.12 = 0.336 kWh from the wall per mile × $0.17 = 5.7 cents per mile
Over 12,000 miles a year:
- Gas: 12,000 × $0.117 = $1,404
- EV at home: 12,000 × $0.057 = $684
- Difference: about $720 a year in favor of the EV
Now change one assumption. If you charge on an off-peak rate of $0.10/kWh, the EV cost drops to 0.336 × $0.10 = 3.4 cents per mile, or about $403 a year. If you rely on public fast chargers at $0.45/kWh, it rises to 0.336 × $0.45 = 15.1 cents per mile, or about $1,814 a year, more than the gas car.
Comparison tables
Gas car cost per mile
| Fuel economy | $3.00/gal | $3.50/gal | $4.00/gal |
|---|---|---|---|
| 25 mpg | 12.0¢ | 14.0¢ | 16.0¢ |
| 35 mpg | 8.6¢ | 10.0¢ | 11.4¢ |
| 50 mpg (hybrid) | 6.0¢ | 7.0¢ | 8.0¢ |
EV cost per mile (including 12% charging losses)
| Efficiency | $0.10/kWh | $0.17/kWh | $0.25/kWh | $0.45/kWh (fast charging) |
|---|---|---|---|---|
| 0.25 kWh/mi (efficient sedan) | 2.8¢ | 4.8¢ | 7.0¢ | 12.6¢ |
| 0.30 kWh/mi (typical) | 3.4¢ | 5.7¢ | 8.4¢ | 15.1¢ |
| 0.40 kWh/mi (large SUV or pickup) | 4.5¢ | 7.6¢ | 11.2¢ | 20.2¢ |
A few patterns stand out. Even at a high home rate of $0.25/kWh, a typical EV costs less per mile than a 35 mpg gas car at $3.50. A large electric pickup on expensive fast charging can cost more per mile than a 25 mpg truck. A good hybrid narrows the gap considerably, especially where electricity is expensive.
Plug in your own rates and vehicles with our EV cost calculator.
Why EVs use so much less energy
According to the US Department of Energy, EVs convert over 77% of the electrical energy from the grid into power at the wheels, while conventional gasoline vehicles convert only about 12–30% of the energy in their fuel. Most of the rest becomes waste heat. EVs also recover energy through regenerative braking and use almost nothing while stopped in traffic.
Factors that change the answer
- Cold weather: EVs use more energy in winter for cabin and battery heating, which can raise cost per mile noticeably on cold days. Cars with heat pumps tend to fare better.
- Driving style and speed: high highway speeds hurt EV efficiency more than city driving. Gas cars are the opposite in stop-and-go traffic.
- Electricity rates: time-of-use and EV rates can make overnight charging very cheap. See our guide to time-of-use rates.
- Solar: charging from your own rooftop solar can lower your effective cost per kWh over the system's life.
Beyond fuel: total cost of ownership
Energy is only part of the picture. A fair comparison includes:
| Cost area | EV | Gas car |
|---|---|---|
| Routine maintenance | No oil changes, spark plugs or exhaust; regenerative braking reduces brake wear | Regular oil changes and more engine-related parts |
| Tires | Can wear faster due to weight and torque | Typical wear |
| Purchase price | Often higher upfront, though the gap varies by segment | Often lower upfront |
| Insurance | Can be higher for some models | Varies |
| Home charging setup | Possible Level 2 installation cost | None |
| Depreciation | Varies widely by model and market | Varies |
If you need a Level 2 charger, read our EV home charging guide for setup and costs.
A note on incentives
The US federal new clean vehicle tax credit does not apply to vehicles acquired after September 30, 2025. Some states, provinces and utilities still offer purchase rebates or charging incentives. Check our incentives page for what is available where you live.
How to run your own comparison
- Find your electricity price per kWh on your bill, including delivery charges. If you have time-of-use pricing, use the off-peak rate for overnight charging.
- Look up the EV's rated efficiency in kWh per 100 miles and divide by 100.
- Estimate the share of charging you will do at home vs public fast charging.
- Use your current car's real-world mpg, not just the window sticker.
- Multiply each cost per mile by your annual mileage.
The Alternative Fuels Data Center's home charging page includes its own worked cost example.
Frequently asked questions
Is it always cheaper to drive an EV?
Not always. With home charging at typical rates, EVs usually cost much less per mile. Heavy reliance on public fast charging, very high electricity prices or a large, inefficient EV can erase the advantage.
How do I convert miles per kWh to kWh per mile?
Divide 1 by the miles per kWh figure. For example, 3.5 miles per kWh equals 1 ÷ 3.5 = about 0.29 kWh per mile.
What is MPGe?
Miles per gallon equivalent is a US rating that treats 33.7 kWh of electricity as equal to one gallon of gasoline. It compares energy efficiency but not cost, so cost per mile is more useful for budgeting.
Does cold weather really matter?
Yes. EVs use extra energy to heat the cabin and battery in winter, so expect higher consumption in cold months. Preheating while plugged in reduces the impact.
Run your own numbers
Plug your bill, prices and climate into our free ev vs gas cost calculator — every assumption is editable.
This guide is general information, not financial, tax or engineering advice. Prices and incentives change — confirm with qualified local professionals and official program sources. See our methodology and disclosures.