Essence at over €2 per liter: how much do we really save with an electric car?

With a price for SP95-E10 exceeding €2 per liter in France, the cost of using a gasoline car is skyrocketing. In comparison, how much does it actually cost to charge an electric car at home? We’ve done the math.

Electric car or gasoline: which one is cheaper to operate today? With rising fuel prices, the question is becoming particularly interesting again. To answer it without favoring one or the other, let’s start with simple assumptions.

The price of SP95-E10 is currently around €2.03 per liter on average in France. With a gasoline car consuming 6 L/100 km, driving 100 km costs approximately €12.20 in fuel.

For the electric car, let’s assume a consumption of 15 kWh/100 km. We can add 10% to account for losses during charging: thus, approximately 16.5 kWh needs to be drawn from the meter.

With an electricity price of €0.2001/kWh under the EDF Blue Tariff, Base 6 kVA option, driving 100 km in an electric car costs about €3.30 when charged at home.

The difference therefore reaches nearly €8.90 every 100 km.

At 10,000 km per year, the savings approach €890. It jumps to about €1,335 for 15,000 km, which is over €110 per month, and nearly €1,780 for 20,000 km annually.

However, these figures should be handled with caution. They only compare the costs of gasoline and electricity, not the total costs of the vehicles. Purchase price, depreciation, insurance, financing, or maintenance are not taken into account.

Most importantly, this advantage assumes the ability to charge your electric car at home. On a public fast charging station or on the highway, the price per kWh can be significantly higher.

But with gasoline prices exceeding €2 per liter, charging at home undeniably gives a serious economic advantage to the electric car.

ALSO READ: Peugeot slashes prices: up to €7,050 off its cars in August

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