EV vs Petrol Cost Calculator

Compare the true annual costs of electric vehicles vs petrol cars. See exactly how much you'll save by going electric.

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How EV vs Petrol Costs Compare in 2026

The EV vs petrol debate comes down to total cost of ownership, not just the sticker price. While electric vehicles typically cost $5,000-$12,000 more upfront than their petrol equivalents, they save money in three key areas: fuel, maintenance, and increasingly, insurance.

Our calculator compares both vehicles across five cost categories over your ownership period: purchase price (after incentives), fuel/electricity costs, routine maintenance, insurance premiums, and depreciation. According to fueleconomy.gov, the average EV driver saves $800-$1,500 per year on fuel alone compared to a petrol equivalent.

Where EVs Save Money

Frequently Asked Questions: EV vs Petrol

Are EVs actually cheaper than petrol cars overall?

Over 5 years, most EVs cost $3,000-$8,000 less total than comparable petrol vehicles when you factor in the federal tax credit, fuel savings, and reduced maintenance. The breakeven point typically occurs in year 3-4.

How much does it cost to charge an EV vs fill up with gas?

Charging at home costs about $60-$90/month for average driving vs. $117-$145 for petrol. That's $57-$85 saved per month or $684-$1,020 per year.

Do EVs cost more to insure?

Currently 15-20% more on average, driven by higher repair costs. However, the gap is shrinking as more insurers develop EV-specific policies.

What about EV battery replacement costs?

EV batteries are warrantied for 8 years/100,000 miles. Most last 15-20 years. Replacement costs have dropped to $5,000-$10,000 in 2026. Fewer than 1% of EVs have needed battery replacement under warranty.