Stable Insights

EV Charging: Gasoline Price Equivalent Index

Discover how EV charging costs stack up against gasoline prices

Overview

Stable Auto monitors thousands of public DC fast chargers and level 2 chargers across the U.S. Amidst ongoing consumer confusion about charging costs and their impact on total cost of EV ownership, we’ve created a gasoline price equivalent index. This index translates electric vehicle charging costs into a familiar metric: gasoline prices. By comparing the cost of gasoline with the cost of charging, our index helps drivers understand the financial benefits of switching from gasoline to electric.

Average EV Charging Savings by State (Q1 '24)

The average percentage discount that EV drivers experience when comparing the cost of charging an EV to the cost of gasoline.

EV Charging Equivalent vs. Gasoline Price by State (Q1 ‘ 24)

Last updated May 9, 2024

Highlights (Q1 '24)

  • Charging an EV costs less than fueling a typical internal combustion engine (ICE) vehicle with gasoline in every U.S. state.
  • EV drivers save, on average, about 54% on gasoline costs compared to typical ICE drivers, with savings ranging from 33% to 71% depending on the state.
  • The average cost of EV charging equates to gasoline priced at $1.66 per gallon, nearly $2.00 less than the average gasoline price in America.
  • Washington drivers benefit the most, saving $3.11 per gallon equivalent, a 66% discount, thanks to the region's hydropower.
  • In contrast, Louisiana drivers save the equivalent of $1.03 per gallon, a 33% savings, due to higher energy costs and lower gasoline prices.