This question is gaining popularity along with the popularity and growth of electric vehicles. Many EV drivers are more concerned with the “cost” to the environment and not the savings over gas-powered vehicles, but there are also many EV drivers out there who are interested in this statistic. So how can you calculate the difference? It’s not as difficult as you might think, but there is some research involved.
To calculate the cost of gas fueling a vehicle, the formula is pretty simple. Simply divide the cost of one gallon of gasoline in your area by the miles per gallon (MPG) of the vehicle in question. For instance, if gasoline costs $4/gallon in your area and the vehicle gets 30 MPG, it costs 13.33 cents per mile to fuel your vehicle.
To calculate the cost of charging your electric vehicle is a bit more challenging. First, visit the automaker’s website to see the estimated charging times and the charging system you intend to use for the vehicle in question. Next, find your electric company’s rates per kilowatt-hour. Multiply the rate per kilowatt-hour by the estimated time it will take to charge your vehicle based on your chosen charging method. Then divide that number by the number of miles you received per full battery charge, and you will have your answer.
In most cases, it will be cheaper to charge your vehicle that it would be to fill it with gas, but you must do your own research to determine if this is true for you. Find more information about gas and electric vehicle MPGs at www.CompetingCarPrices.com.