Today marks the deadline for a gasoline driver to spend more on fuel than the average EV driver over the course of an entire year, according to data.
On so-called “Electric Car Day”, it has been suggested that electric vehicle owners now have “free” running costs for the rest of the year compared to those driving combustion engine models.
And more good news for EV owners is that the tipping point will come sooner this year than in 2023 thanks to lower electricity prices.
Research by The Electric Car Scheme reveals that, as of 15 July, the average petrol driver has spent more on fuel than the average EV driver throughout the year.
The Electric Car Program crunched the numbers and concluded that typical EV drivers get five months of free driving.
The study marks the second year the group has identified a crossover point where electric vehicles begin to deliver results.
Annual fuel costs for the average UK driver travelling 7,400 miles a year were analysed and compared to the charging costs of an electric vehicle driver over the same distance.
A typical petrol driver will spend £1,268 on fuel this year, compared to £680 for an EV driver.
This point was revealed by analysing annual fuel costs for the average UK driver travelling 7,400 miles a year.
In 2019, the Department of Transportation found that the average number of miles traveled per car was 7,400, the last full year on record without interference from the pandemic.
With petrol cars averaging 38.8mpg (according to Nimble Fins) and government figures estimating the price per gallon of petrol in 2024 (YTD) at £1.44 per litre, the annual cost of petrol comes to just under £1,300.
While it depends on the model of EV and when you charge it, with the average price per mile for an EV costing just £0.09 (according to EcoExperts), the annual cost of an EV is just under £700.
While it depends on the model of EV and when you charge it, with the average price per mile for electric driving costing just £0.09, the annual cost of an EV is just under £700.
Annual fuel costs for the average UK driver travelling 7,400 miles a year were analysed and compared to the charging costs of an electric vehicle driver over the same distance.
If you own a Tesla Model Y Long Range and charge it off-peak, EV Day may come even sooner: March 10 could have been your free EV day, saving you a huge amount of money compared to gas-powered drivers, the report says.
Electric Car Scheme chief executive and co-founder Thom Groot said: ‘For the rest of the year, electric car drivers can rest easy knowing that petrol car drivers have already spent as much as they will spend all year on driving.
‘This is in addition to knowing that since the beginning of March, EV drivers have been driving effectively emission-free compared to traditional cars, not to mention the huge amounts of pollution removed from our towns, cities and villages and the health benefits that come with it.’
This is Money recently reported that the standard variable tariff fell to 22.4p/kWh in July, the lowest price in years.
As well as being the reason EV Day came early this year, it helps all EV drivers who charge at home enjoy further savings, but using a special EV tariff and smart charging will reduce costs even further.
EDF has just launched a new tariff, Evolve Sept25, which costs the average driver just £247 a year to charge if they drive an average of 7,000 miles, thanks to five hours of off-peak power each evening to charge their car.
As fuel and energy prices are not static, this ‘Electric Car Day’ could come even earlier next year, which would be welcome news for all EV drivers and those contemplating the switch – especially as the new ban on petrol and diesel cars is due to be brought forward to 2030 under our new Labour government.
A Model Y owner could have seen their EV Day fall as early as March 10th of this year
As well as saving money, The Electric Car Scheme has calculated the equivalent day for carbon emissions crossing: 5 March.
This is the day when an electric car will have generated more carbon emissions than an EV over a full year of driving and energy consumption.
An average petrol car will emit 2,030kg of CO2 per year, while an average electric vehicle will emit only 352kg.
This day will come closer every year as the UK grid increasingly shifts towards renewable energy and electric vehicles move closer to becoming 100% emissions-free.
AA president Edmund King said: “The data shows a clear delineation of the relative costs and environmental impacts of driving a petrol car, which is hard to ignore, especially as the date approaches when a petrol driver spends more on fuel than an electric driver over an entire year.”
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