Guide · 02
EV vs petrol: what actually drives cost
Whether an EV saves you money comes down to four things: energy, servicing, insurance and depreciation. Ignore the slogans; here's what really counts in each one.
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The short version: charging at home is usually far cheaper per mile than petrol. Relying on rapid public chargers may not be. After how far you drive, your home-versus-public mix is the biggest thing that moves your running costs.
1. Energy and fuel
Here's a rough October 2026 snapshot per mile, using UK averages:
- Petrol: about 20p a mile
- Diesel: about 18p a mile
- EV at home, standard rate: about 7.5p a mile
- EV on a night tariff: about 1.9p a mile
- EV on public rapid chargers: about 23.5p a mile, which can cost more than petrol
See the numbers
- Petrol: The DESNZ weekly road fuel prices UK average unleaded for the week starting 26 October 2026 was 174.07p/litre. At about 40 mpg (UK): roughly 20p/mile (p/litre × 4.546 ÷ mpg).
- Diesel: same DESNZ release, 199.22p/litre; at about 50 mpg: roughly 18p/mile.
- EV at home (cap rate): Ofgem GB average price cap 26.32p/kWh (Oct–Dec 2026). At 3.5 mi/kWh: about 7.5p/mile.
- EV night tariff example: Intelligent Octopus Go from 6.5p/kWh (checked 31 October 2026, Octopus Energy) → about 1.9p/mile at the same 3.5 mi/kWh.
- Public rapid: the pay-as-you-go rapid prices in our UK charger price table average 82.5p/kWh (IONITY Direct 83p, Osprey 82p, checked 25 October 2026) → about 23.5p/mile at 3.5 mi/kWh.
Your car's efficiency and your charging habits will shift these. For night tariffs, see our off-peak EV tariff comparison.
2. Servicing and wear
No oil changes, and far fewer engine and exhaust bits to go wrong. But EVs aren't "almost free" to keep: you still pay for tyres (which can wear faster on heavier, punchy cars), brakes (usually less often), cabin filters and manufacturer services. Budget for them.
3. Insurance
EV insurance can cost more, thanks to repair networks, battery risk and car value. Get real quotes for the exact models you're considering; calculator defaults are just placeholders.
4. Depreciation: the big one
Over 3–5 years, the purchase price gap and resale value often dwarf any fuel savings. A cheap used EV and an expensive new one tell completely different stories. Treat "% value lost" as a what-if dial, not a forecast.
Prices with and without VAT
See the numbers
| Price | Incl. VAT | Excl. VAT |
|---|---|---|
| Unleaded, UK average, DESNZ (week of 26 Oct 2026) | 174.07 p/litre | 145.06 p/litre |
| Diesel, UK average, DESNZ (week of 26 Oct 2026) | 199.22 p/litre | 166.02 p/litre |
| Ofgem price cap unit rate, GB (1 Oct–31 Dec 2026) | 26.32 p/kWh | 26.32 p/kWh |
Petrol, diesel and public charging: VAT 20%. Home electricity in Great Britain: 0% VAT from 1 October 2026 to 31 March 2027 (normally 5%; Northern Ireland stays at 5%), so the price cap figure is the same with or without VAT (HMRC VAT Notice 701/19). Households always pay the VAT-inclusive price.
Related guides
- New: EV running cost per mile vs petrol in the UK (updated 24 October 2026)
- New: How much does it cost to charge a Tesla in the UK? (updated 24 October 2026)
- UK off-peak EV tariffs compared: the biggest lever on the energy line.
- EV winter range: why efficiency, and cost per mile, changes with the seasons.
- Home EV charger installation costs
Open EV Cost Comparison All guides
Compare public charger prices: Prices change, check before you charge. The price shown in the operator’s app or on the charger is the one you pay.