Recent gas prices increase are reminding consumers that electric cars are more efficient and less costly. In the United States, gas prices have risen to over $4.20 a gallon. Some states are even prohibiting gas-powered equipment. That’s made electric vehicles three to six times cheaper to drive than gas-powered vehicles.
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Overall, as of March 2022, driving an EV is dramatically cheaper per mile than driving a gas-powered vehicle. Nationally, EVs are 3-5 times cheaper to drive per mile than gas-powered vehicles. In Arizona, Florida, Georgia, Nevada, North Carolina, Tennessee, and Virginia, some EVs are 5–6 times cheaper to drive.
-The Zero Emission Transportation Association (ZETA)
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Across the northern border, gas costs $1.70 —$2 per liter. 61% of Canadians say oil supply challenges have convinced them to buy an EV. Further, more than half of poll respondents say they will never repurchase a gas-powered vehicle.
What’s next?
Families are losing money at the pump to a commodity that is increasingly unpredictable and unaffordable in an already-expensive pandemic year. However, North American consumers don’t have to choose to drive a car or save money. Electric vehicles are now affordable.
With the ability to plug in and charge almost anywhere, EV drivers can insulate their wallets from geopolitically driven fossil fuel price swings. At-home charging stations are an additional upfront payment, but that price is likely to decrease. The cost of batteries is already dropping due to growing manufacturing capacity, higher demand from leading manufacturers, and new battery cell and pack designs. Plus, federal rebates in the US sweeten the deal.
With auto-manufacturers moving to electrify their entire lineup of vehicles by the end of the decade, it’s only a matter of time before gas is a thing of the past.