Electric Vehicles Have Lowest Annual Fuel Cost of All Light-Duty Vehicles

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Estimates of annual fuel costs for model year (MY) 2022 light-duty vehicles show that electric vehicles (EVs) can save consumers thousands of dollars over gasoline or diesel vehicles. All EV models had annual fuel costs less than $1,000. The only vehicle types with cost estimates between $1,000 and $2,000 were plug-in hybrid electric (PHEV) and hybrid electric (HEV) models. Models with an annual fuel cost estimate of $2,000 to $7,000 were dominated by conventional gasoline models. The small car category has a wide breadth of fuel costs because it not only includes fuel-efficient small cars, but also luxury sportscars with low fuel economies.

Each dot represents a base model and is an average cost for all certified configurations of that model. Two models in the small car category exceed $7,000 and are not shown.

Notes: Assumes 15,000 miles of travel each year, with 55% city driving and 45% highway driving, and fuel costs of $4.87/gallon for regular unleaded gasoline, $5.76/gallon for premium, $5.72/gallon for diesel, $3.54 for E85 and $0.13/kWh for electricity. USD = U.S. dollars.

Sources: Graphic created by Brennan Borlaug, National Renewable Energy Laboratory.

Data courtesy of the U.S. Department of Energy and U.S. Environmental Protection Agency, Fuel Economy data, accessed May 5, 2022.

Fact #1251 Dataset

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