EV vs Gas Cost in New Mexico (2026)
New Mexico electricity averages 13.8¢/kWh. Gas is $3.15/gallon. Driving an EV 12,000 miles costs $473/year vs $1,260/year for a 30 MPG gas car.
Annual savings
$787
per year
5-year savings
$3,935
fuel only
EV/mile
3.9¢
vs 10.5¢ gas
State rebate
$3,000
available
New Mexico beats the national average
National average EV fuel savings: $728/year. New Mexico comes in $59/year higher. Electricity at 13.8¢/kWh is 2.3¢ below the national average.
New Mexico: EV vs gas full breakdown
| EV | Gas car (30 MPG) | |
|---|---|---|
| Fuel rate | 13.8¢/kWh | $3.15/gal |
| Cost per mile | 3.9¢/mile | 10.5¢/mile |
| Annual fuel (12,000 mi) | $473 | $1,260 |
| 5-year fuel | $2,365 | $6,300 |
| Annual fuel savings | $787/yr · $3,935 over 5 years | |
3.5 mi/kWh EV efficiency · 30 MPG gas car · home charging · 2026 EIA electricity rates and GasBuddy gas prices
New Mexico savings calculator — adjust for your situation
EV annual fuel
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Gas annual fuel
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Annual savings
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Electricity: 13.8¢/kWh · Gas: $3.15/gal · New Mexico 2026 rates
New Mexico EV incentives (2026)
State rebate: up to $3,000
New Mexico EV Tax Credit: $3,000 for new BEV or PHEV. No income limit. Claim on state income tax return.
Electricity: 13.8¢/kWh
2.3¢ below the national average of 16.1¢/kWh. A full 75 kWh battery charge costs $10.35.
Source: EIA 2026 residential rates
Gas: $3.15/gallon
$0.05 below the national average of $3.2/gal. Filling a 15-gallon tank costs $47.25 in New Mexico.
Source: GasBuddy 2026 state averages
EV charging availability in New Mexico
Decent coveragePublic charging in New Mexico covers major metro areas and interstate corridors. Rural coverage is improving. Home charging handles most daily needs.
Compare other states
More New Mexico EV data