One of the most common questions for anyone considering switching to an electric vehicle is: how does the cost of charging compare to filling up with petrol? In 2026, the answer is nuanced — but for most drivers in most markets, the running cost advantage for EVs remains real, even as electricity prices have risen from their historic lows.

The Cost Comparison: Home Charging vs Petrol

For drivers who primarily charge at home overnight, the economics of EVs are compelling. At an average US residential electricity price of around 16 cents per kWh, charging a typical EV with a 75 kWh battery costs approximately $12 — enough for around 250–300 miles of range. The equivalent journey in a petrol car achieving 35 mpg at $3.50 per gallon would cost around $25–$30. That represents a fuel cost saving of roughly 50–60% for home-charging EV drivers.

In the UK, where domestic electricity prices are higher (around 25p per kWh on the standard variable tariff), the comparison is closer, but EV drivers who take advantage of Economy 7 or time-of-use overnight rates can charge for 7–12p per kWh, maintaining a strong cost advantage over petrol.

Public Charging: The Caveat

The economics shift significantly for drivers who rely heavily on public rapid charging. DC fast chargers typically cost 50–80p per kWh in the UK and $0.40–$0.60 per kWh in the US — comparable to or sometimes more expensive than petrol on a per-mile basis. For drivers without home charging access, EV running costs may be only modestly lower than petrol, or in some cases comparable.

The Verdict

For most drivers with home charging access, EVs remain meaningfully cheaper to run than petrol equivalents in 2026. The gap narrows for public charging users, and may not justify an EV switch on running costs alone in high-electricity-price markets without home charging.