Even if gasoline cost $2.50 a gallon, one Chevy Bolt owner said they would save $500 in fuel costs over 10,000 miles.
The EV driver took to Reddit's r/BoltEV community to share their calculations.
Here's what to know
"If you get 25 mpg and pay $2.50 per gallon, then over 10,000 miles, it'll cost you $1,000," the OP wrote. "If you average 3 miles per kwh over 10,000 miles, then that's 3,334 kwh over that period, and at $0.15/kwh, it'll cost you about $500."
Other EV owners noted that their savings could be even greater. "I'm pretty sure that nobody in the United States will ever again get gasoline for $2.50/gallon," one commenter wrote.
Someone else added, "I drive at least 100 miles per day, and the amount I save on gas compared to my old car at 35 mpg is more than my monthly car payment on the Bolt."
A third user explained: "OP's math is right, but you would be hard-pressed to get as low as 3 mi/kwh in a Bolt. … If you use $4/gal and 4mi/kWh, that 10,000 miles costs $1,600 in the ICE car and only $375 in the Bolt."
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Commenters also pointed to expenses beyond fuel that can affect the cost of owning an electric vehicle. Avoiding oil and transmission fluid changes pushed one commenter's estimated annual savings to nearly $500.
Drivers considering a switch to an electric vehicle should compare local electricity and gasoline prices, vehicle efficiency, and annual mileage. But as demonstrated in this thread, many drivers have slashed their fueling costs by going electric.
Where can I learn more?
How much an EV saves depends on what you pay to charge and how far you drive.
• One Chevy Bolt EUV owner credited cheap charging and a tax break with profitable driving.
• Another Bolt owner's Level 1 charging question yielded a $71 monthly estimate.
• One EV charging comparison put gasoline's break-even price at $1.14 per gallon.
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