Gasoline prices in the US are breaking records: how profitable is the transition to an electric car

Many EV owners have solidified their choice of vehicle after U.S. gas prices hit record highs. On March 9, the average price of a gallon of gasoline in the US jumped to $4,25 (vs. $4,17 a day earlier) and is expected to continue rising. The increase in prices is due to the fact that the United States, as part of the sanctions, refuses to purchase Russian energy carriers, and this hits the market. However, as the researchers found, it’s too early for owners of electric cars to rejoice, writes Fox News.

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At home - long, away from home - expensive

Electricity prices in the US are highly regulated in most states and have nothing to do with Russia, so they don't go up. Thus, the cost of charging an electric car is much lower than refueling a car with an internal combustion engine, but only if you can charge it at home (you need a special connection device) or you have a lot of free time.

The national average cost per kilowatt-hour of residential electricity is 13 cents, according to the Environmental Protection Agency. Most owners who charge their electric vehicles at home use a 2-volt Level 240 charger. A full charge usually takes at least eight hours. Such chargers are also available in public places - in the parking lots of offices and shopping centers, they are called destination chargers.

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But things are different at DC level 3 public fast-charging stations. They allow some electric vehicles to charge up to 80% in just 18-40 minutes (depending on model and station speed). But you have to pay for such efficiency.

At the Electrify America charging network, which is compatible with all electric vehicles, the cost of fast charging reaches 43 cents per kilowatt-hour (such prices, in particular, in California, New York, Florida and Washington). The price can be reduced to 31 cents per kilowatt-hour by purchasing an Electrify America membership, but then members are charged a monthly club fee.

Specific examples

Fast-charge at 43 cents per kilowatt-hour for the Ford Mustang Mach-E (starting price $37, range 495 miles between charges) will cost $247 for 2100 miles (average annual mileage in the US). If we take the club price of 15 cents per kilowatt-hour, we will invest $000 per year. If you charge your Ford Mustang Mach-E at home, you'll spend $31 a year and... a lot of time.

To fill up the Ford Escape Hybrid ($32 starting price, 780 mpg) with gas, you'll spend $41 per year (1550 miles) at $15 per gallon. Gas for the non-hybrid Escape S ($000 average, 4,25 mpg) costs $27 per year. In California, where gas costs an average of $755 per gallon, fueling costs for these vehicles would be $30 and $2100 per year, respectively.

So, for 15 miles, you will spend on refueling for:

• electric car - from 650 to 2100 dollars;
• hybrid - from $1550 to $2050;
• non-hybrid gasoline car - from 2100 to 2800 dollars.

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Not everyone buys an electric car to save money, but for those looking to cut costs, it's important to do the math for your specific situation before making a purchase. Use your mileage and local energy prices to calculate.

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