Fuel and car costs · rates of EIA and EPA
Gas or electric: what a year of driving costs in energy
Pick a state, an electric model, the MPG of the gasoline car and your yearly miles: the calculator compares the two energy bills.
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Yearly energy saving with the EV
$1,020
$530 of electricity against $1,550 of gasoline
| EV cost per mile | $0.044 |
| Gasoline cost per mile | $0.129 |
| Five years at this mileage | $5,098 |
Energy only: purchase price, insurance and maintenance are in the cost of ownership calculator. How this is calculated.
Over 12,000 miles a year, a 2026 Chevrolet Equinox AWD rated 26 mpg burns about $2,010 of gasoline at the U.S. average of $4.354 a gallon (EIA, week of October 5, 2026), while its electric sibling, the 2027 Chevrolet Equinox EV FWD, uses about $678 of electricity at the U.S. residential average of 18.19 cents per kWh. That is a saving of $1,331 a year, or $6,656 over five years, in energy alone. The gap is not the same everywhere: with both prices from EIA, it is widest in Washington ($1,966 a year) and narrowest in Massachusetts ($861). The calculator above lets you swap models, MPG, miles and prices. It compares energy only; purchase price, insurance and depreciation belong in the cost of ownership calculator.
Same car, two drivetrains
The fairest comparison uses similar vehicles. Chevrolet sells the Equinox with a gasoline engine and as an electric model, and the EPA rates both (fueleconomy.gov): 26 mpg combined for the gasoline version on this page, 31.1 kWh per 100 miles for the electric one. A gallon of gasoline at the national price buys about 26 miles for $4.35; the same miles take 8.1 kWh, or $1.47 at the national electricity price.
Where electricity wins most, and least
Two prices drive the result, and states combine them differently. A state with cheap power and average gasoline favors the EV; a state with expensive power and cheap gasoline narrows the gap. Using the EIA residential averages for January to July 2026 and the EIA gasoline prices of the week of October 5, 2026, the Equinox pair saves the most in Washington and the least in Massachusetts:
| State | Gasoline / gal | Electricity / kWh | Gasoline per year | Electricity per year | EV saves |
|---|---|---|---|---|---|
| Washington | $5.424 | 14.40¢ | $2,503 | $537 | $1,966 |
| Nevada | $5.116 | 13.53¢ | $2,361 | $505 | $1,857 |
| Oregon | $5.116 | 15.40¢ | $2,361 | $574 | $1,787 |
| Arizona | $5.116 | 15.44¢ | $2,361 | $576 | $1,785 |
| New York | $4.380 | 29.38¢ | $2,022 | $1,096 | $926 |
| Rhode Island | $4.343 | 29.22¢ | $2,004 | $1,090 | $915 |
| Maine | $4.343 | 29.99¢ | $2,004 | $1,119 | $886 |
| Massachusetts | $4.302 | 30.14¢ | $1,986 | $1,124 | $861 |
Charging at U.S. average residential prices
Electricity cost
$56.53
| Energy from the outlet | 311 kWh |
| Price: 18.19¢ per kWh | $56.53 |
| Per mile | $0.057 |
Running your own comparison
The Equinox pair is only an example. Pick any electric model in the list, then type the combined MPG of the gasoline car you would buy instead; the EPA window sticker or the presets of the gas cost calculator give it. Set your yearly miles from your odometer: the saving grows in proportion, so a driver doing 20,000 miles a year sees two thirds more than the 12,000-mile example. If your electricity bill shows a price far from the state average, enter it; the same goes for the price at your usual gas station.
The five-year line simply multiplies the yearly gap. It assumes prices stay where EIA measured them, which they will not: gasoline moves week to week and electricity month to month. Rerun the comparison with a higher and a lower price for each to see how sensitive the answer is for you.
What the comparison leaves out
Home charging at the residential average is the assumption here. Charging often at highway fast chargers costs more per kWh, and a time-of-use plan at night can cost less; the EV charging calculator blends home and public charging. Maintenance differs too: electric cars need no oil changes, but tires can wear faster on heavier vehicles; this tool does not guess those amounts. The price gap between the two versions, insurance and resale value often outweigh the energy saving, which is why the cost of ownership calculator exists.
For business driving
The IRS mileage rate does not care what is under the hood: 76 cents a mile since July 1, 2026 for gasoline, hybrid and electric cars alike. An EV driver reimbursed at that rate keeps the larger share of it, because energy is a smaller part of the cost per mile; see the cost per mile calculator.