In the US, charging electric vehicles is cheaper than gasoline — Cyprus Mail

In the United States, the spread of electric vehicles is creating two distinct transport fuel markets: the costs for drivers of gasoline-powered cars depend on the global oil market, while EV owners are increasingly dependent on local electricity rates. As Cyprus Mail reports, the average cost of charging an electric vehicle, converted to the equivalent cost per gallon of gasoline, is about $1.56 nationwide, while the average price of gasoline is $4.43 per gallon.

Differences between states

Energy analytics platform Orennia compared the cost of overnight home charging with gasoline expenses for two similarly sized vehicles — the 2025 Hyundai Elantra and the 2025 Hyundai Ioniq 6. This approach takes into account that most electric vehicles in the United States are charged at home.

Hawaii is the most expensive state for charging EVs: the equivalent cost is about $3.45 per gallon. The lowest figure was recorded in Wyoming, at approximately $1.14. The difference between these states reaches about $2.30. In 40 states, the average charging cost does not exceed the equivalent of $2 per gallon.

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In the gasoline market, the highest prices were recorded in California — about $6.08 per gallon, according to the American Automobile Association. The lowest average price is in Indiana, at about $3.92. The gap between these figures is approximately $2.17, and in 44 states gasoline costs more than $4 per gallon.

Global oil market and local rates

Gasoline prices in different states generally move in the same direction because they are tied to a single oil market. They are influenced by OPEC decisions, refinery disruptions, geopolitical events, and fuel inventories. At the same time, electricity costs depend on the regional structure of the energy system, utility rates, generation sources, and state policies.

After Hawaii, California, as well as Connecticut, Massachusetts, Maine, and Rhode Island, are named among the most expensive states for charging electric vehicles. States with lower costs for electric transport include Louisiana, Idaho, Washington, Utah, and several Great Plains states. Despite differences in rates, electric vehicles currently cost less than gasoline-powered cars in energy expenses in all states, including Hawaii.