You’re probably wondering whether making the switch to an electric vehicle will actually save you money at the pump. With fuel prices soaring and EV technology becoming more mainstream, it’s a question that’s on many drivers’ minds across the UK. In fact, charging an electric car is generally cheaper than fueling a petrol or diesel car, making the electric car cheaper to run for many owners.
The truth is, comparing EV charging costs to petrol expenses isn’t as straightforward as you might think. Various factors come into play – from your driving habits and home charging setup to the type of EV you choose and how often you use public charging networks.
Understanding the real costs involved can help you make an informed decision about your next vehicle purchase. Whether you’re considering your first electric car or simply curious about the economics of EV ownership, we’ll break down the numbers to show you exactly how much you could save (or spend) by going electric. In many cases, the annual running costs of an electric vehicle are significantly cheaper than those of petrol or diesel cars.
Understanding EV Charging Costs
The cost of charging an electric vehicle can vary significantly based on where and when you charge your vehicle. These expenses can vary depending on three primary factors: your home electricity tariff, public charging network rates, and the timing of your charging sessions.
Home Charging Expenses
Home charging represents the most economical option for EV owners across the UK. You’ll pay your standard electricity rate, which is set by the Ofgem price cap at 25.73p per kWh for July to September 2025, though this fluctuates based on your energy supplier and tariff type.
A typical EV with a 60kWh battery costs approximately £15.44 to charge from empty to full at home (based on the current price cap). Most drivers don’t charge from completely empty, so your actual costs typically range between £8-12 per charging session for top-ups. Home charging becomes even more cost-effective when you consider that most daily commutes require only partial battery top-ups. Installing a dedicated home charger reduces charging times and often qualifies you for special EV electricity tariffs. Having off-street parking makes it easier to install a home charger and gives you access to cheaper charging rates and greater convenience.
These installations cost between £800-1,500. While broad government grants for home charger installation have largely been phased out for homeowners, specific grants may still be available for renters, those living in flats, or in certain regions like Scotland. These installations provide faster charging speeds and smart scheduling features that optimise your energy costs.
Public Charging Network Pricing
PPublic charging costs vary dramatically across different network providers and charging speeds. Using public chargers, rapid and ultra-rapid charging (50kW+) typically costs 70p-85p per kWh, while slower AC (slow/fast) charging generally ranges from 45p-60p per kWh, depending on the location and provider.
Major networks like Pod Point, BP Pulse, and Ionity each maintain different pricing structures. Some operators charge flat rates per kWh, while others implement time-based pricing or connection fees. Premium locations such as motorway services often command higher rates, with some ultra-rapid chargers exceeding 85p per kWh.
Some locations also offer a free charger, usually provided by businesses for customers, but these often have restrictions such as limited charging speed or time limits. Subscription plans from charging networks can reduce costs for frequent users.
These plans typically offer discounted rates in exchange for monthly fees, making them worthwhile if you regularly use public charging infrastructure. The cost of using public charging points and charge points can also vary significantly based on location, charging speed, and the provider.
Peak vs Off-Peak Tariffs
Off-peak electricity tariffs significantly reduce home charging costs for EV owners. Off-peak charging is the most cost efficient way to charge an EV. Economy 7 tariffs provide cheaper overnight electricity, typically 12p-18p per kWh between 11pm and 7am, compared to peak rates of 30p-35p per kWh. This makes it ideal for a quick top up or a full charge, depending on your needs.
Smart charging systems automatically schedule your EV charging during off-peak periods, maximising these savings without requiring manual intervention. Some energy suppliers, such as Octopus Energy, offer EV-specific tariffs with extended off-peak periods, giving you 6-8 hours of discounted electricity daily.
Time-of-use tariffs vary by region and supplier, but the savings potential remains substantial. Charging a 60kWh battery during off-peak hours costs approximately £10.80 compared to £20.40 during peak times, representing a 50% reduction in charging expenses.
Petrol Car Running Costs Breakdown
Understanding petrol car running costs helps you make informed comparisons when considering an electric vehicle. Running costs for a petrol or diesel car include fuel, maintenance, and taxes. Your traditional petrol vehicle involves several ongoing expenses that directly impact your annual motoring budget.
Fuel is the most obvious ongoing cost, and prices can fluctuate significantly. Diesel is another comparable fuel source, and its price volatility can also affect your overall expenses.
When comparing running costs, a diesel car may offer better fuel efficiency than a petrol car, but fuel prices and taxes can offset these savings.
It’s important to note that diesel cars may have different efficiency and cost profiles compared to petrol vehicles.
Fuel Prices and Consumption
Petrol costs approximately £1.39 per litre as of January 2025, translating to running costs of around 17p per mile for typical petrol vehicles (assuming approximately 45 MPG). Your fuel expenses depend on your car’s efficiency and driving patterns, with most drivers experiencing significant variations based on traffic conditions and journey types.
You’ll find that petrol prices have increased by 13% since 2019, representing a moderate rise compared to electricity price changes. A typical journey covering 222 miles could cost approximately £37.74 in petrol (based on 17p/mile), demonstrating the substantial fuel expenses associated with conventional vehicles over time. Your consumption patterns affect these costs significantly.
City driving typically increases fuel consumption due to stop-start traffic, while motorway cruising often delivers better efficiency. Average petrol cars consume between 35-45 miles per gallon, though this varies considerably based on engine size, vehicle weight, and driving style. Heavier vehicles tend to consume more fuel, which increases running costs.
Maintenance and Servicing Costs
Petrol cars require regular servicing and maintenance due to their complex engine systems and numerous moving parts. Your annual service costs typically include oil changes, filter replacements, spark plug maintenance, and various fluid top-ups that electric vehicles don’t require.
You’ll encounter higher maintenance expenses with petrol vehicles compared to electric alternatives. Traditional combustion engines contain hundreds of moving parts that experience wear and tear, requiring periodic replacement and adjustment. Common maintenance items include timing belts, exhaust systems, clutches, and brake components that wear more frequently due to engine braking limitations.
Your service schedule usually demands attention every 6,000-12,000 miles, with major services occurring annually. These visits often cost between £200-500 depending on your vehicle’s age and complexity. Over a 3-year ownership period covering 30,000 miles, you’ll typically spend significantly more on servicing compared to electric vehicle owners.
Direct Cost Comparison Analysis
Comparing the direct costs of electric and petrol vehicles reveals significant differences that impact your overall transportation budget. Petrol vehicles are also referred to as ‘internal combustion engine’ or ‘ICE cars’, and in this analysis, we compare ICE cars to electric vehicles. The calculations demonstrate clear patterns in running expenses between these two vehicle types.
Cost Per Mile Calculations
Electric cars offer substantial savings when charging at home, costing approximately 7p per mile for your daily driving. This figure represents the average cost when you charge your vehicle using standard domestic electricity rates. The average price of electricity in the UK is around 28p per kWh, which helps determine the typical charging cost for electric vehicles.
Petrol cars cost considerably more to operate, with fuel expenses ranging from 12p to 21p per mile depending on your vehicle’s efficiency and current fuel prices. Your actual costs depend on factors such as engine size, driving style, and local petrol station prices.
| Vehicle Type | Cost Per Mile | Price Range |
|---|---|---|
| Electric Cars | 7p | Fixed rate (home charging) |
| Petrol Cars | 12p – 21p | Variable based on efficiency |
Monthly and Annual Expense Projections
Annual mileage of 10,000 miles produces distinct cost patterns for electric and petrol vehicle owners. EV drivers typically experience significant savings over a year, as electric car owners spend approximately £58.33 monthly and £700 annually on charging costs when using home charging exclusively.
Petrol car owners face higher expenses, with monthly costs averaging £125 and annual expenses reaching £1,500 when calculating at the midpoint rate of 15p per mile. Your actual expenses may vary based on driving patterns and fuel efficiency. Additional savings for electric vehicle owners include lower maintenance costs due to fewer moving parts, and exemption from Clean Air Zone charges in participating cities. However, it’s important to note that from April 1, 2025, electric vehicles are no longer exempt from Road Tax (Vehicle Excise Duty).
New EVs registered on or after April 1, 2025, will pay £10 in the first year, then the standard £195 annually. EVs registered between April 1, 2017, and March 31, 2025, will also now pay the standard £195 rate. EVs registered between March 1, 2001, and March 31, 2017, will move to a £20 annual rate. Furthermore, EVs with a list price exceeding £40,000 (when new) will also be subject to an additional ‘expensive car supplement’ of £425 for five years (starting from the second year of registration), bringing their total VED to £620 annually during that period. Despite these new VED costs, these factors generally continue to contribute to the overall cost advantage of electric vehicles beyond basic fuel expenses.
Factors Affecting Overall Costs
Several key factors influence the cost comparison between electric vehicles and petrol cars, determining your potential savings over time. Understanding these variables helps you calculate accurate running costs based on your specific circumstances.
Innovations and incentives from car manufacturers, such as advancements in battery technology or special offers on EV charge cards, can also significantly impact the overall cost of EV ownership.
Driving Patterns and Mileage
High-mileage drivers benefit most from switching to electric vehicles due to the lower cost per mile for electricity compared to petrol. Your annual mileage directly impacts the financial advantage of EV ownership, with savings increasing proportionally to distance travelled.
Daily commuting patterns affect charging strategies and costs. Frequent long-distance drivers using motorway charging networks face higher per-mile costs than those charging primarily at home. Public charging during a long journey can be more expensive, making it important to plan ahead for extended trips. Weekend-only drivers may not realise significant savings compared to regular commuters covering 15,000+ miles annually.
Business drivers and fleet operators typically see the greatest cost benefits from EVs. Commercial use patterns often involve predictable routes and overnight parking, making home or depot charging feasible and cost-effective.
Regional Price Variations
Electricity and petrol prices vary significantly across UK regions, affecting your potential savings from EV ownership. Northern England and Scotland typically offer cheaper electricity rates than London and the South East, enhancing EV cost advantages in these areas.
Home charging tariffs differ between energy suppliers and regional distribution networks. Economy 7 and Economy 10 tariffs provide greater savings in areas with lower overnight electricity rates, particularly benefiting EV owners who charge during off-peak hours.
Public charging network pricing varies by location and provider. Urban areas often feature more competitive charging rates due to higher network density, while rural locations may have limited options with premium pricing.
Petrol station pricing also shows regional variations, with motorway services typically charging 10-15p per litre more than supermarket forecourts. Your local fuel price environment influences the comparative advantage of electric vehicle charging.
Vehicle Efficiency Differences
Electric vehicles demonstrate superior energy efficiency compared to petrol cars, converting approximately 85-90% of electrical energy into motion versus 25-30% for internal combustion engines. This efficiency gap directly impacts your running costs per mile.
Modern EVs achieve 3-4 miles per kWh on average, while petrol cars typically deliver 35-45 mpg depending on engine size and driving conditions. Larger EVs with bigger batteries may show lower efficiency but still maintain cost advantages over equivalent petrol vehicles. Heavier or larger vehicles require more energy to operate, which can reduce overall efficiency. The Nissan Leaf is a good example of a medium-sized EV with typical efficiency, making it a useful benchmark when comparing running costs.
Driving style significantly affects both EV and petrol car efficiency. Aggressive acceleration and high-speed motorway driving reduces electric vehicle range by 20-30%, while smooth driving patterns maximise efficiency and minimise charging costs.
Weather conditions impact EV efficiency more than petrol cars, with cold temperatures reducing battery performance and range. Heating systems in electric vehicles consume battery power, potentially increasing charging frequency and costs during winter months. Charging losses can also contribute to energy lost during the charging process, which impacts the overall efficiency and cost of charging an EV.
Long-Term Financial Benefits
Electric vehicles deliver substantial long-term savings beyond daily running costs. You’ll save approximately £528 annually compared to petrol car ownership through reduced fuel expenses and lower maintenance requirements.
Government Incentives and Grants
EV buyers have seen government support that can reduce overall ownership costs, though some incentives have evolved. As of April 1, 2025, fully battery electric vehicles are no longer exempt from Road Tax (Vehicle Excise Duty). New EVs registered on or after this date will pay £10 in the first year, then the standard £195 annually from the second year. EVs registered between April 1, 2017, and March 31, 2025, will also now pay the standard £195 rate.
Older EVs, registered between March 1, 2001, and March 31, 2017, will be subject to a £20 annual tax rate. Additionally, EVs with a list price exceeding £40,000 (when new) will incur an extra ‘expensive car supplement’ of £425 for five years (from the second year of registration). Many cities continue to exempt electric vehicles from emission zone charges that apply to petrol cars. You’ll still avoid Ultra Low Emissions Zone fees and similar charges in participating areas, creating substantial savings for urban drivers.
Depreciation Rates
Electric vehicles increasingly retain value better due to rising demand and advancing technology. You’ll benefit from improved resale values as the EV market matures and consumer acceptance grows.
Petrol cars depreciate faster due to stricter emission regulations and fuel cost volatility. You’ll face higher depreciation rates on combustion engine vehicles as governments implement tougher environmental standards.
Insurance Cost Differences
Insurance premiums for electric vehicles can sometimes exceed petrol car costs due to repair expenses and parts availability. You’ll find this gap narrowing as EVs become mainstream and insurers adjust their pricing models.
Some insurers offer discounts for EV owners, recognising lower accident rates and environmental benefits. Your insurance costs depend on vehicle model, driving history, and coverage level rather than just fuel type.
Urban Commuter Scenarios
Electric vehicles prove exceptionally cost-effective for urban commuting when you can charge at home. You’ll pay around £13-14 for a full 50kWh battery charge at home rates of £0.257-£0.270 per kWh.
Urban EV owners avoid congestion charges and emission zone fees that burden petrol car drivers. You’ll maximise savings through home charging combined with exemptions from city centre charges.
Long-Distance Travel Costs
Public rapid charging significantly increases EV travel costs for long journeys. You’ll pay up to £0.85 per kWh at rapid chargers, making long-distance EV travel costs comparable to petrol refuelling expenses. Many rapid charging options are available at motorway service stations, providing convenient but often more expensive charging for electric vehicles.
Strategic trip planning and home charging combinations minimise these higher costs. You’ll reduce long-distance expenses by charging at home before journeys and selecting cost-effective public charging networks. Shell Recharge is a popular charging network available at many motorway service stations, offering convenience and unified payment options for EV drivers.
Future Cost Projections
Understanding future pricing trends helps you make informed decisions about your next vehicle purchase. Both electricity and petrol markets face different pressures that directly impact your running costs over the coming years.
Electricity Price Trends
Electricity prices in the UK are expected to remain more stable than petrol costs through 2025 and beyond. The domestic energy price cap currently sits at approximately £0.27 per kWh, with seasonal variations providing slight relief during summer months when demand decreases.
Your home charging costs benefit from this stability, with industry forecasts suggesting gradual price adjustments rather than dramatic fluctuations. Off-peak electricity tariffs continue offering significant savings, particularly for EV owners who can charge during low-demand periods. Smart charging systems maximise these benefits by automatically scheduling charging sessions during the cheapest rate windows.
| Price Factor | Current Rate | Projected Trend |
|---|---|---|
| Standard domestic tariff | £0.27 per kWh | Stable with seasonal variation |
| Off-peak rates | £0.7-£0.18 per kWh | Continued availability |
| Public rapid charging | £0.82 per kWh | Gradual reduction as infrastructure expands |
Petrol Market Forecasts
Petrol prices face continued volatility due to global oil market uncertainty and geopolitical factors. Current prices around £1.38 per litre are expected to experience frequent fluctuations, making budgeting more challenging for petrol car owners.
Your fuel costs remain vulnerable to international oil price movements, supply chain disruptions, and currency exchange rates. Market analysts predict petrol prices will likely increase faster than electricity costs over the medium term, widening the cost gap between petrol and electric vehicles.
Additional factors affecting petrol prices include:
- Refinery capacity constraints
- Environmental regulations increasing production costs
- Seasonal demand variations
- Carbon pricing mechanisms
These projections suggest your savings from switching to an electric vehicle will continue growing, with the cost advantage expected to reach £600-£1,000 annually for typical driving patterns by 2026.
The financial case for switching to an electric vehicle becomes increasingly compelling when you examine the numbers. With charging costs averaging 7p per mile compared to petrol’s 12-21p per mile you’ll save substantial amounts annually.
Your biggest savings come from home charging during off-peak hours particularly if you’re a high-mileage driver. The £800+ annual difference between EV and petrol running costs means you’ll recoup your investment faster than many expect.
As electricity prices remain more stable than volatile petrol costs this savings gap will likely widen further. Your transition to electric isn’t just environmentally responsible – it’s financially smart planning for the future.
Useful Links
- https://pod-point.com/guides/electric-car-vs-petrol-car-cost-comparison-in-2024?srsltid=AfmBOopbOIPEJ7TqXHnIWRhFTSqm2FlNTXQPLvWtH8lXMC75gT0lJJJm
- https://www.vanarama.com/electric-leasing/cars/how-much-does-it-cost-charge-electric-car
- https://blog.evbox.com/uk-en/is-ev-charging-cheaper-than-petrol
- https://www.which.co.uk/reviews/new-and-used-cars/article/electric-car-charging-guide/how-much-does-it-cost-to-charge-an-electric-car-a8f4g1o7JzXj
- https://www.edfenergy.com/electric-cars/costs
- EV Charging Cost vs Petrol Car: Cost Comparison Guide
Frequently Asked Questions
How much does it cost to charge an electric car at home?
Home charging costs approximately 28p per kWh as of 2024. A typical 60kWh EV battery costs around £16.80 to charge from empty to full, but most drivers spend £8-12 per session due to partial charging. Installing a dedicated home charging point can further reduce costs and charging times.
Are public charging stations more expensive than home charging?
Yes, public charging is significantly more expensive. Rapid charging costs 45p-65p per kWh, while slower AC charging ranges from 25p-40p per kWh. Home charging at 28p per kWh remains the most economical option. Some charging networks offer subscription plans for frequent users.
EV drivers can use Zap-Map to find, compare, and choose public charging stations based on location, network, and charging speed, including models like the Zappi Charger.
What are off-peak electricity tariffs and how much can they save?
Off-peak tariffs like Economy 7 offer cheaper overnight electricity rates. Smart charging systems can optimise charging times to maximise savings. Charging during off-peak hours can reduce costs by up to 50%, making it crucial for EV owners to consider these tariffs.
How much does petrol cost per mile compared to electric?
Petrol cars cost approximately 17p per mile with petrol at £1.38 per litre. Electric vehicles cost around 7p per mile when charged at home. For 10,000 annual miles, petrol costs about £1,500 yearly whilst electric charging costs approximately £700.
What are the maintenance cost differences between petrol and electric cars?
Petrol cars require more maintenance due to complex combustion engines, costing £200-500 annually for servicing, oil changes, and part replacements. Electric vehicles have fewer moving parts and require minimal maintenance, resulting in significantly lower servicing costs over a three-year ownership period.
How much can I save annually by switching to an electric vehicle?
For typical driving patterns (10,000 miles annually), electric vehicle owners spend about £700 on charging compared to £1,500 for petrol. This represents annual savings of approximately £800, with additional benefits including no road tax (until April 2025) and exemptions from Clean Air Zone charges.
Will the cost difference between petrol and electric vehicles increase in the future?
Yes, analysts predict petrol prices will increase faster than electricity prices through 2025 and beyond. Global oil market uncertainties make petrol costs volatile, whilst electricity prices remain more stable. By 2026, annual savings could reach £600-£1,000 for typical driving patterns.
Who benefits most from switching to electric vehicles?
High-mileage drivers, particularly business drivers and fleet operators, benefit most from switching to EVs due to lower costs per mile. Regional price variations also affect savings potential. The superior energy efficiency of electric vehicles compared to petrol cars makes them particularly cost-effective for frequent drivers.
