Electric vehicles now cost more to fuel than gas-powered cars: Study,

 

Drivers of gas-powered cars have grabbed the cost advantage back from electric vehicle owners thanks to a drop in prices at the pump , according to a new study .

Consulting firm Anderson Economic Group found that rising electricity costs and the dropping of gas prices in the final quarter of 2022 created comparatively greater savings for those who drove internal combustion engine vehicles.

An Exelon EV charging station on display during the Washington, D.C. Auto Show at Walter E. Washington Convention Center on January 19, 2023.

(Graeme Jennings/Washington Examiner)

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“Typical mid-priced ICE car drivers paid about $11.29 to fuel their vehicles for 100 miles of driving,” the study noted . “That cost was around $0.31 cheaper than the amount paid by mid-priced EV drivers charging mostly at home, and over $3 less than the cost borne by comparable EV drivers charging commercially.”

The AEG study said the shift in costs gave gas-powered drivers a leg up on savings for the first time in 18 months.

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