Energy Department releases state by state “egallon” prices to let consumers compare cost of fueling with electricity vs. gasoline
The Energy Department has launched the eGallon – a quick and simple way for consumers to compare the costs of fueling electric vehicles vs. driving on gasoline. In
“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. 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,” said Energy Secretary Ernest Moniz. “Not only can electric vehicles save consumers on fuel and reduce our dependence on oil, they also represent an opportunity for
On Energy.gov/eGallon, consumers can see the latest eGallon price for their state and compare it to the price of gasoline. Over time, consumers will notice that the eGallon price will be far more stable and predictable than gasoline prices. That’s because the eGallon price depends on electricity prices, which are very stable; gasoline prices depend on the global oil market, which can be very unstable and are driven by unpredictable international events.
The eGallon provides a metric that is easily comparable to the traditional gallon of unleaded fuel. That 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. The eGallon price varies from state to state based on the price of electricity.
In just the last couple years, significant cost reductions and improvements in vehicle performance have had a dramatic impact on the
