Electric Vehicle Fuel Savings Calculator

Please input the fuel efficiency (miles per gallon) of a gas-powered vehicle and the energy efficiency (miles per kilowatt-hour) of an electric vehicle to calculate the potential savings in fuel costs when driving an electric vehicle.

Distance Driven (miles): Electric Vehicle Energy Efficiency (kWh/100mi): Price per kWh ($): Current Vehicle Fuel Economy (mpg): Price per Gallon of Gasoline ($):

How to Calculate the Fuel Cost Savings of an Electric Vehicle

Follow These steps:
1.Estimate the Cost of Charging an Electric Vehicle
2.Estimate the Cost of Gasoline
3.Calculate the Savings

Electric vehicles (EVs) are not only environmentally friendly but are often more cost-effective to operate compared to gas-powered vehicles. However, determining the exact amount of money saved in fuel costs can be a complex task. To help you estimate your potential savings, follow these steps:

Step 1: Estimate the Cost of Charging an Electric Vehicle

It's important to remember that operating an electric vehicle is not entirely free since charging the battery requires electricity, which comes with a cost. The average price per kilowatt-hour (kWh) is around $0.12, although this may vary depending on your location.

To estimate the cost of charging an electric vehicle, start by obtaining the EPA kWh/100mi energy efficiency rating for the specific EV model you're considering. Then, use the following formula:

Electric Cost = (Distance Driven / 100) × (kWh/100mi) × (Price/kWh)(alert-success)

This equation calculates the electricity cost by dividing the distance driven by 100, multiplying it by the kilowatt-hours per 100 miles, and finally multiplying it by the price per kilowatt-hour.

Step 2: Estimate the Cost of Gasoline

To estimate the cost of gasoline, you need to know the fuel efficiency of your current gas-powered vehicle. You can utilize our gas mileage calculator to determine this value accurately.

Once you have the fuel efficiency in miles per gallon (mpg), use the following formula to calculate the cost of gasoline:

Fuel Cost = (Distance Driven / Fuel Economy) × (Price/Gallon)(alert-success)

Here, the fuel cost is obtained by dividing the distance driven by the fuel economy in mpg and then multiplying it by the price per gallon.

Step 3: Calculate the Savings

With the figures obtained from the previous steps, you can now calculate the potential fuel cost savings of driving an electric vehicle. Use this formula:

Savings = Gasoline Costs - Electric Costs(alert-success)

The savings from operating an electric car are equal to the cost of gasoline minus the cost of electricity required to charge the vehicle's batteries.

Additionally, if you're interested in determining the fuel savings from upgrading to a more fuel-efficient gas-powered vehicle or a hybrid, you can take advantage of our fuel savings calculator.

By following these steps, you can estimate the potential savings in fuel costs when transitioning to an electric vehicle. Embracing electric mobility not only benefits the environment but can also lead to long-term savings in your transportation expenses.