The U.S. Department of Energy recently launched eGallon, a quick way for consumers to compare the costs of fueling electric vehicles versus driving on gasoline. With today’s national average eGallon price at about $1.14, a typical electric vehicle could travel as far on $1.14 worth of electricity as a similar vehicle could travel on one gallon of gasoline.
“Consumers can see gasoline prices posted at the corner gas station, but are left in the dark on the cost of fueling an electric vehicle,” says Energy Secretary Ernest Moniz. “The eGallon will bring greater transparency to vehicle operating costs, and help drivers figure out how much they might save on fuel by choosing an electric vehicle. It also shows the low and steady price of fueling with electricity. Not only can electric vehicles save consumers on fuel and reduce our dependence on oil, they also represent an opportunity for America to lead in a growing, global manufacturing industry.”
On Energy.gov/eGallon, consumers can see the latest eGallon price for their state and compare it to the price of gasoline. The comparison is made by calculating how much it would cost to drive an electric vehicle the same distance as a similar conventional vehicle could travel on a gallon of gasoline, according to the Energy Department.
Over time, consumers will notice that the eGallon price will be far more stable and predictable than gasoline prices, says the Energy Department. That’s because the eGallon price depends on electricity prices, which historically are stable. On the other hand, gasoline prices depend on the global oil market -- often influenced by unpredictable international events.