How Much Money Does an Electric Car Really Save?

There’s no question that a vehicle powered by electricity is more environmentally-friendly than one run on gasoline, and with gas at a national average of $3.65 per gallon, it’s obvious that electricity is a less expensive fuel too. But exactly how much cheaper is it to fuel an electric car? In the past consumers would have to estimate the difference, but the DOE has introduced a new tool that removes the guesswork from electric/gasoline vehicle comparisons.

The eGallon is a calculation of “the cost of fueling a vehicle with electricity compared to a similar vehicle that runs on gasoline.” The DOE website shows consumers a side-by-side comparison of the eGallon versus a gallon of gasoline, not only nationwide, but in each individual state.

Image Courtesy DOE

Nationally, it is over three times more expensive to fuel a traditional vehicle, at $3.65 per gallon, than an electric vehicle, at $1.14 per gallon. And the disparity in some states is even better! In Arkansas, for instance, gas is 3.7 times more expensive than electricity.

Find out how wallet-friendly an electric vehicle can be in your state – visit: http://energy.gov/articles/egallon-how-much-cheaper-it-drive-electricity

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