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How do you calculate gas savings for an electric car?
I’ve been thinking about buying an electric car in order to become more eco-friendly, but will it actually save me money compared to gas? How do I calculate the difference?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
The idea of having to convert to a new style of fuel might be intimidating, but it’s actually pretty easy to figure out how much you’re saving by driving an
electric car
The average gas-powered passenger vehicle in the U.S. gets about 25 miles per gallon. At even $3 per gallon, after 1,000 miles you’re spending $120 on gas.
The average electric car uses 34 kWh per 100 miles. This means if you were to drive 1,000 miles in a month while paying the U.S. consumer average kilowatt rate of 13 cents per kilowatt, you’d be paying $44.20 a month in electricity to charge your car. If you want to do the math for yourself, try the following steps:
- Find out how much you’re paying per kilowatt on your monthly electric bill
- Use your odometer on your electric car to track your mileage per month
- Find out how many kilowatt-hours(kWh) your car uses per 100 miles.
- Calculate how many kWh you have used for that month, and multiply it by the cost you’re paying per kilowatt on your electric bill.
Once you download Jerry, answer a handful of questions that will take you roughly 45 seconds to complete and you’ll immediately get car insurance quotes for coverage similar to your current plan. Jerry customers save an average of $889 per year.
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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