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How EV savings are calculated
An electric car's running cost per 100 km is simply its energy consumption times the price of electricity: kWh/100km × $/kWh. A petrol car's cost per 100 km is its fuel consumption times the fuel price: L/100km × $/L. The calculator shows both, then divides the petrol figure by the EV figure to give a "how many times more expensive" ratio.
The annual saving is the difference between the two per-100-km costs, scaled up to your yearly distance: (petrol cost − EV cost) ÷ 100 × km per year. Because electricity is usually far cheaper than petrol per unit of energy — and EVs are much more efficient — this figure is typically in the hundreds or thousands of dollars.
Remember that this only covers energy. EVs can be more expensive to buy, and you may also want to factor in home charger installation, battery degradation and your local electricity tariff. But for pure "fuel" running costs, the difference is usually dramatic.
Where you charge also matters. Home electricity is usually much cheaper than public fast-charging, and some utilities offer special off-peak or EV tariffs that can cut the cost per kWh further. If you charge overnight on a discounted rate, your savings will be even larger than the default estimate — try adjusting the electricity price to match your actual tariff and see how the numbers change.
Finally, keep in mind that this calculator compares energy costs only. Whether an EV saves you money overall depends on how much you drive, how you charge, and the difference in purchase price — but as a rule, the more miles you cover each year, the more an EV's lower running costs work in your favour.
Related tools
- Commute cost calculator — fuel cost for a regular commute.
- Trip cost calculator — fuel cost for a single journey.
- Car comparison calculator — compare two petrol cars.