Electric vs Petrol Running Costs

How much does it cost to run an electric car?

CheckFuelPrices Editorial Expert Written • 6 industry sources

Reviewed by Jonathan Mathews VERIFIED

LinkedIn Articles 5+ Yrs Peer Reviewed

Running an electric car costs around 3–4p per mile when charging at home, compared to roughly 14–16p per mile for a typical petrol car. Total annual running costs are significantly lower for EVs, though upfront purchase prices and public charging rates can narrow that gap.

Home Charging Costs

Cost per mile at home: Charging overnight on a standard home tariff at around 24p per kWh, a typical EV costs approximately 3–4p per mile to run — roughly a quarter of the cost of petrol. 5

Off-peak tariffs cut costs further: EV-specific electricity tariffs with overnight off-peak rates as low as 7–10p per kWh can reduce home charging costs to as little as 1–2p per mile. 6

Home charger installation: A dedicated 7kW home wallbox typically costs £800–£1,200 installed, though government grants of up to £350 are available for eligible properties to offset the cost. 2

Public Charging Costs

Rapid and ultra-rapid charging: Public rapid chargers (50–150kW) typically cost 50–85p per kWh, pushing the cost per mile up to around 10–15p — still competitive with petrol but far less economical than home charging. 4

Slow and fast public chargers: Slower public AC chargers (7–22kW) are often cheaper at 35–55p per kWh and are practical for longer stops such as shopping or leisure visits. 4

Network subscriptions can help: Many charging networks offer monthly subscription plans that reduce per-kWh rates by 10–20%, which is worth considering if you rely on public charging regularly. 3

Other Running Cost Savings

Servicing is cheaper: EVs have fewer moving parts than petrol or diesel engines — no oil changes, fewer brake replacements, and no exhaust system — meaning annual servicing costs are typically 30–40% lower. 3

Road tax (VED): From April 2025, EVs are no longer exempt from Vehicle Excise Duty and pay the standard rate, removing one of the historic cost advantages over petrol cars. 2

Insurance tends to be higher: EV insurance premiums are currently around 25% higher on average than equivalent petrol models, partly due to higher repair costs and specialist parts availability. 3

How EV Costs Compare to Petrol

Fuel saving per year: A driver covering 10,000 miles annually could save £1,000–£1,300 per year on fuel alone by switching from petrol to home charging, based on current average fuel prices. 1

Check current petrol prices to compare: The real saving depends on live petrol and diesel prices in your area. CheckFuelPrices shows live pump prices at 4,000+ UK stations so you can calculate your exact potential saving. 1