Fuel is where an EV earns its keep - but only if you charge at home. The gap between home charging, public charging and gasoline is so large that "is an EV cheaper to run?" has three different answers depending on where you plug in. Here is the math, with every assumption on the table so you can swap in your own numbers.
The assumptions
| Input | Value used | Source basis |
|---|---|---|
| Annual distance | 12,000 miles (19,300 km) | Typical US/UK driver |
| EV efficiency | 3.5 miles per kWh | Mid-size EV, mixed driving |
| Gas car economy | 33 mpg (US) / 45 mpg UK (imperial) | Comparable petrol sedan |
| US home electricity | $0.17 per kWh | EIA residential average, 2026 |
| US public DC fast | $0.45 per kWh | Major networks' typical pay-as-you-go |
| US gasoline | $3.30 per gallon | 2026 national average range |
| UK standard electricity | 26p per kWh | Ofgem price cap region, 2026 |
| UK off-peak EV tariff | 8p per kWh (night window) | Major EV tariffs, 2026 |
| UK petrol | £1.45 per litre | 2026 pump average |
All figures November 2026. Energy prices move; swap your own tariff and pump price into the same formulas.
The annual bill, US driver
| Fueling pattern | Math | Annual cost |
|---|---|---|
| 100% home charging, standard rate | 3,429 kWh × $0.17 | $583 |
| 100% home charging, off-peak rate ($0.09) | 3,429 kWh × $0.09 | $309 |
| 100% public DC fast charging | 3,429 kWh × $0.45 | $1,543 |
| Gasoline, 33 mpg | 364 gal × $3.30 | $1,200 |
The annual bill, UK driver
| Fueling pattern | Math | Annual cost |
|---|---|---|
| Home charging, off-peak EV tariff | 3,429 kWh × 8p | £274 |
| Home charging, standard cap rate | 3,429 kWh × 26p | £892 |
| Petrol, 45 mpg (imp) | 267 gal × £6.59/gal | £1,756 |
What the table actually says
- Home charging on a standard tariff saves 40-60% against gasoline in both markets. That is the floor, not the best case.
- An off-peak or EV tariff doubles the saving. If your utility offers one and you can shift charging into the night window, this is the single biggest lever in EV running costs.
- Relying on DC fast charging can cost more than gasoline. Public rapid charging is a road-trip tool, not a fueling strategy. Drivers without home or workplace charging should run their own numbers carefully before buying.
Three driver profiles
The commuter (12,000 miles, home charger, off-peak)
US: about $310/year in electricity vs $1,200 in gas. Saving: roughly $890/year, which recovers a mid-range charger installation in about two years.
The mixed driver (12,000 miles, 80% home / 20% public DC)
US: $466 home + $309 public = $775/year. Still $425 ahead of gas. The 80/20 split is typical for drivers who take a few long trips a year.
The renter without home charging (12,000 miles, 70% public DC / 30% paid AC)
US: roughly $1,300-1,500/year - at or above the gasoline figure. This is the profile where the EV fuel saving does not exist yet, and workplace charging or a landlord conversation matters more than the car choice.
What to read next
- What is Level 2 charging? The home charging basics.
- How much a home EV charger costs to install (2026).
Sources: US EIA residential electricity averages, EPA fuel-economy data, Ofgem price-cap publications, major charging-network published rates, pump-price averages. All November 2026; prices in your state or region will differ.