Will the cost of charging an EV remain less than an ICE car?

With the price of petrol and diesel lowering slightly and the price of electricity likely to double if not more, will the cost of fuelling an electric car remain less than petrol or diesel?

Asked on 11 August 2022 by Topsparks

Answered by Andrew Brady
It's worth doing some sums when trying to decide between petrol, diesel or electric power. As an example, let's look at the Volkswagen ID.3. A mid-range model has a 58kWh battery and can travel, say, 240 real-world miles from a charge. It's predicted that the cost of electricity could be capped at 70.34p per kWh from January 2023 – so, in a worst-case scenario, our ID.3 will cost about £40 to fully charge at home (equal to around 16p per mile).

As a comparison, consider a Volkswagen Golf 1.5 TSI. You'll currently pay around 175.24p per litre of unleaded, so it'll cost around £87 for a full tank of petrol. Assuming you'll see around 50.0mpg, that works out at a cost of around 16p per mile... exactly the same as an ID.3.

So how does a diesel Golf compare? Our readers see around 53.0mpg on average from a 2.0-litre diesel Golf, which means at the current fuel prices (185.9p per diesel) you'll pay... 16p per mile.

Of course, these are rough calculations and there are numerous other factors to consider but, on the face of it, the cost of 'fuelling' an EV could soon be just as expensive as running a petrol or diesel car.
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