EV Charging Prices Rise Above ICE Fueling Costs For First Time In 18 Months

As electricity costs have also risen, this was the first time in 18 months that mid-range internal combustion engines were more fuel efficient than comparable electric vehicles. While AEG doesn’t offer a price range for mid-range vehicles, we can safely assume the group includes the likes of the Kia EV6, which starts at $48,700 — that’s a lot more than a Chevrolet Bolt, but not quite in the luxury range .

The study results for owners of luxury high-end electric vehicles such as the Porsche Taycan look different. In this segment, the cost benefit of charging versus filling up with gas is $7.56 in favor of EVs, assuming charging is primarily at home. With mostly commercial charging, luxury EVs are still cheaper to refuel than comparable luxury ICEs.

Because electric vehicles remain rare in the entry-level and pickup segments, there was not enough data to evaluate comparable operating costs. That scenario will change as more competitors join the Rivian R1T and Ford F-150 Lightning.

Access to sub-$30,000 EVs like the Chevrolet Bolt also remains disappointingly low.