EV vs Gas: The Real Cost Comparison in 2026

Electric vehicles cost more upfront but less to operate. Here's the complete picture — fuel, maintenance, insurance, and total ownership cost after 5 years.

Fuel Cost: EV Wins by 60–70%

At the 2026 U.S. national average of $0.17/kWh, an EV costs approximately $0.04–$0.05 per mile to drive at home. A comparable 28 MPG gas car costs $0.12–$0.16 per mile at $3.50/gallon — three times more.

For a driver covering 12,000 miles per year, this difference adds up to $700–$1,400 in annual fuel savings depending on local electricity and gas rates.

Vehicle Example

$/mile (fuel)

Annual fuel cost

Tesla Model Y (EV)

$0.050

$600

Ford Mustang Mach-E (EV)

$0.050

$630

Honda CR-V (28 MPG)

$0.125

$1,500

Ford F-150 Gas (20 MPG)

$0.175

$2,100

Maintenance: EV Saves ~$500–$900/Year

EVs have fundamentally fewer moving parts than gasoline engines. No oil changes, no transmission service, no spark plugs, and dramatically reduced brake wear thanks to regenerative braking.

Average annual maintenance costs: EVs: $400–$600 vs. Gas cars: $900–$1,500. The AAA estimates EV owners save an average of $600/year on maintenance alone.

5-Year Total Cost of Ownership

Cost Category (5 years)

Tesla Model Y EV

Honda CR-V Gas

Purchase price (after fed credit)

$37,490

$33,000

Fuel (12,000 mi/year)

$3,000

$7,500

Maintenance

$2,500

$5,500

Insurance (avg)

$9,500

$8,500

Total 5-Year Cost

$52,490

$54,500

Estimates based on 2026 national averages. Actual savings vary by state, driving habits, and vehicle choice.

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