How the ev vs gas savings calculator works
Enter your electricity rate, the EV’s efficiency in miles per kWh, the gas price, the gas car’s MPG, your monthly miles and any price premium for the EV. The calculator works out each car’s cost per mile, your monthly and yearly savings, five-year savings, and how many months of savings it takes to cover the premium. With your permission it fills in average rates for your state.
The formula
EV cost per mile = electricity price per kWh / miles per kWh; gas cost per mile = gas price per gallon / MPG; monthly savings = (gas − EV cost per mile) × monthly miles; break-even months = price premium / monthly savings.
State averages are estimates and change over time; your own electricity and gas prices will give a better answer. Charging at public fast chargers costs more than charging at home.
Frequently asked questions
How is EV cost per mile calculated?
Your electricity price per kWh divided by how many miles the car goes per kWh.
What is the break-even point?
How many months of fuel savings it takes to cover the extra you paid for the EV.
Where do the state rates come from?
Published state averages for electricity and gasoline. Edit either field to use your own prices.
Results are estimates for planning, not financial advice. Last reviewed 2026-09-28.