Gasoline and diesel prices are vulnerable to significant price fluctuations, whereas EV drivers pay $1.22 on average for the equivalent of one gallon of gasoline. EV drivers who can charge more frequently at home can expect greater savings. The lifetime costs of an EV include the cost of the purchase or lease (minus rebates and tax credits), energy/fuel costs, and maintenance costs. Battery-electric vehicles require less maintenance than vehicles with internal combustion engines, providing cost savings for EV drivers. Drivers can further curb their emissions by charging their EVs with electricity generated by renewable sources.

Source: New York Times June 30, 2023 15:26 UTC