Is an EV Cheaper Than Petrol in the UK?
Updated July 2026 · Based on current UK fuel and electricity prices
Quick answer
Yes, if you charge at home — and the gap just got wider. An EV costs 6.5–7.5p per mile on the current 26.1p/kWh Ofgem price cap rate versus 14–23p per mile for petrol and diesel — a saving of roughly 10–13p per mile. At 10,000 miles this is £900–£1,300 per year. Without a home charger, public rapid charging (averaging 79p/kWh in mid-2026) costs about 22–23p per mile — more than most petrol cars.
The cost per mile comparison: EV vs petrol
EV (home charging)
EV (public charging)
Petrol
Diesel
EV efficiency: 3.5 mi/kWh. Petrol: 153.5p/litre. Diesel: 168.6p/litre. July 2026 prices.
Annual saving at different mileages
Assuming EV at 7.5p/mile (home charging) vs petrol at 17.4p/mile (40 MPG):
| Annual mileage | EV cost (home) | Petrol cost | Annual saving |
|---|---|---|---|
| 8,000 miles | £600 | £1392 | £792/yr |
| 10,000 miles | £750 | £1740 | £990/yr |
| 12,000 miles | £900 | £2088 | £1188/yr |
| 15,000 miles | £1125 | £2610 | £1485/yr |
| 20,000 miles | £1500 | £3480 | £1980/yr |
Calculate for your exact situation
Enter your mileage, actual fuel costs, and charging habits for a personalised figure.
Use the EV vs Petrol Cost CalculatorFrequently asked questions
Is an EV cheaper than petrol to run in the UK in 2026?
For drivers who charge at home, yes — often significantly cheaper, and the gap has widened recently. At the current 26.1p/kWh Ofgem price cap rate and an EV efficiency of 3.5–4.0 miles/kWh, an EV costs 6.5–7.5p per mile. A petrol car averaging 40 MPG at 153.5p/litre (July 2026) costs approximately 17.4p per mile. This is a saving of roughly 10–11p per mile — or £1,000–£1,100 per year at 10,000 miles. Drivers who rely primarily on public rapid charging (averaging 79p/kWh across UK networks in mid-2026) pay around 22–23p per mile — more expensive than most petrol cars.
How much cheaper is an EV than petrol per year?
At 10,000 miles per year with 80% home charging: a typical EV costs £750–£950 in electricity. A petrol car at 40 MPG costs approximately £1,740 in fuel at July 2026 prices. The saving is typically £800–£1,000 per year at this mileage. At 20,000 miles per year, the annual saving for a home-charging EV owner roughly doubles to £1,600–£2,000.
Does buying an EV save money overall?
The running cost saving is real, but EVs typically cost more to buy than equivalent petrol cars. The break-even point — when the accumulated fuel savings outweigh the purchase premium — depends on the price difference and your annual mileage. A £2,500 premium with £990/year saving breaks even in about 2.5 years. A £10,000 premium with the same saving takes around 10 years — longer than many people keep a car.
Is EV or petrol cheaper if I don't have a home charger?
Without a home charger, the economics are much less clear than they used to be. Public rapid charging in the UK averaged 79p/kWh across networks in mid-2026, with the cheapest (Tesla Supercharger, around 62p/kWh) to the most expensive (InstaVolt, BP Pulse, around 90p/kWh). At the 79p average and 3.5 miles/kWh, you're paying around 22.6p per mile — higher than a 40 MPG petrol car at 17.4p per mile. The EV advantage only returns if you have access to cheaper charging (workplace, kerbside, or the lower-priced rapid networks).
Are EVs cheaper to run than petrol or diesel?
Compared to petrol at 153.5p/litre: home-charging EVs are cheaper at most mileages. Compared to diesel at 168.6p/litre: a 55 MPG diesel costs around 13.9p per mile, closer to EV home-charging rates but still more expensive. For efficient diesel drivers (50+ MPG with a home charger) the running cost saving of switching to an EV is smaller — though the BIK tax benefit for company car drivers makes EVs compelling regardless.