EV is Cheaper than Gas Price Per Gallon

Since the 1979 oil crisis, where the price of a gallon of gas went over $1.00 for the first time, the price of gas has never fully recovered.

In March 2022, gas prices in the US exceeded the $4 per gallon mark for the first time since 2008, exacerbated by Russia’s invasion of Ukraine.

In August 2023, oil prices globally have surged to the highest levels in three months, as the economic outlook improves and supply cuts from some of the world’s biggest produces start to bite.

As a result, in the US, operating an electric vehicle today works out to be 2.5X to six times cheaper than operating gas-powered cars.