The Cost of “Refueling”

Turns out that EVs are significantly less expensive to power

By Gary S. Vasilash

Although electric vehicles tend to be more costly than comparable gasoline-powered vehicles, when it comes to “refueling,” EVs can save a whole lot of money compared with gasoline-powered vehicles, according to the U.S. Department of Energy.

As much as about 60%.

The agency developed what it calls an “eGallon.”

That is a comparison of what it would cost to buy equivalent energy to power an EV the same amount as it would cost a gasoline powered vehicle to travel on one gallon of gas.

So, based on the national average of $2.85 for a gallon of gas (as of March 31) and the equivalent price of electricity at a national average of $1.16 for an eGallon, this means the average fuel savings of approximately 60%.

In Washington state the difference was much larger: the cost of a gallon of regular was $3.13 and the cost of an eGallon was $0.89, so the fuel cost savings was about 72%.

So for those who pay attention to what they’re paying for their miles per gallon, it appears that EVs may be advantageous.

Of course, it takes longer to recharge an EV than it does to fill up a tank with liquid fuel.

So if time is money. . . .