20 EV vs Gas Cost Statistics (2026)
The average EV driver saves $854/year on fuel compared to a 30 MPG gas car. Over five years, that's $4,271. The gap between the best and worst states is large enough to change whether the math works. Here's what the data shows.
Data: U.S. Energy Information Administration (EIA) electricity and gas price data, 2024–2025. Fuel cost calculations based on 12,000 miles/year, 3.5 mi/kWh EV efficiency, 30 MPG gas comparison. Last updated: 2026.
Average electricity rate across the U.S.: 16.1¢/kWh
Based on residential rates from 50 states. EIA 2024–2025 data. This is the rate used to calculate home charging costs in the analysis above.
WA has the cheapest electricity at 10.2¢/kWh
WA benefits from extensive hydroelectric generation, keeping residential electricity well below the national average. An EV owner charging 1,000 kWh/month pays $102/month vs. the national average of $161.
HI electricity costs 44.3¢/kWh — highest in the nation
Hawaii's island geography and fuel import costs make electricity 44.3¢/kWh. That changes the EV savings math considerably. Source: EIA 2024.
Average gas price nationally: $3.29/gallon
National average regular unleaded, based on EIA 2024–2025 data. CA averages $4.85/gallon (highest). AR averages $2.87/gallon (lowest among states tracked).
EVs cost roughly 3–5¢/mile to fuel; gas cars cost 8–15¢/mile
At 16.1¢/kWh and 3.5 mi/kWh efficiency, EV fuel cost is about 4.6¢/mile. At $3.29/gallon and 30 MPG, gas cost is 11.0¢/mile. Difference compounds fast at higher mileage.
Average annual fuel savings switching to EV: $854/year
Based on 12,000 miles/year, 3.5 mi/kWh EV efficiency, 30 MPG gas vehicle. Calculated from state-level electricity and gas prices. Source: EIA 2024–2025 data.
Washington offers the highest annual fuel savings at $1,258/year
Cheap hydro power and moderate-to-high gas prices make Washington the top state for EV economics. Over 5 years: $6,290 in fuel savings before any incentives.
Hawaii shows the smallest fuel savings at $419/year
High electricity costs narrow the EV fuel advantage in Hawaii. The economics still favor EVs for most drivers, but the payback period is longer.
14 states offer additional EV rebates on top of the $7,500 federal credit
CT tops the list: CHEAPR rebate: up to $9,500. Federal EV tax credit: up to $7,500 under the Inflation Reduction Act (income limits apply). Source: U.S. DOE Alternative Fuels Data Center, 2025.
Average 5-year fuel savings: $4,271 before purchase price difference
Fuel savings alone don't tell the full story. EVs typically carry a $3,000–$8,000 premium over equivalent gas vehicles before incentives. Combined with $1,000–$2,000 in maintenance savings over 5 years, most buyers break even within 4–6 years.
Methodology
Electricity rates from U.S. Energy Information Administration (EIA) state residential retail rates, 2024–2025. Gas prices from EIA weekly retail gasoline prices. Fuel cost calculations use 12,000 miles/year, 3.5 mi/kWh EV efficiency, 30 MPG gas comparison vehicle. State incentive data from U.S. DOE Alternative Fuels Data Center, current as of 2025.
Data: EIA State-Level Residential Electricity Prices, EPA Fuel Economy Ratings Database, DOE Alternative Fuels Data Center, IRS Clean Vehicle Tax Credit Schedules
Last updated: January 2025
How we calculate this · Tax credit eligibility varies by income and vehicle. Verify with your tax professional before purchase.