Gas vs. Electric: How Running Costs Compare for Student Drivers

Fuel and Charging Costs: What You Actually Pay Per Mile

For gas vehicles, your cost per mile is tied directly to local fuel prices and your car's fuel economy rating, measured in miles per gallon (MPG). A vehicle averaging 30 MPG in a region where gas costs $3.50 per gallon works out to roughly $0.12 per mile. That number shifts every time prices change at the pump.

Electric vehicles measure efficiency in miles per kilowatt-hour (kWh). Home charging typically runs $0.13–$0.17 per kWh in the U.S., depending on your utility and state. At that rate, an EV averaging 3.5 miles per kWh costs approximately $0.04–$0.05 per mile — meaningfully less than gasoline. Public fast chargers can be two to three times more expensive per kWh, however, which narrows that gap considerably if you rely on them frequently.

For a deeper breakdown of how daily commute distance translates into monthly fuel spending, see our monthly fuel budget guide.

Maintenance Differences That Affect Your Annual Budget

Gas engines require regular oil changes (typically every 5,000–7,500 miles), air filter replacements, spark plug service, and transmission fluid checks. These routine visits add up — industry estimates suggest gas car owners spend several hundred dollars per year on scheduled maintenance alone, before accounting for unexpected repairs.

Electric vehicles eliminate many of those items entirely. There's no engine oil, no spark plugs, and regenerative braking reduces brake pad wear significantly. The main ongoing maintenance items for an EV include tire rotations, cabin air filter changes, and eventually battery health monitoring. That said, battery replacement — should it become necessary outside warranty — can be a substantial cost.

For a broader view of ownership expenses students commonly overlook, the car ownership costs overview covers registration, servicing, and other budget items worth accounting for.

Insurance, Purchase Price, and the Full Picture

Purchase price is often where gas vehicles hold a clear advantage for students. Used gas cars are widely available at lower price points than comparable used EVs, though the EV used market is growing. Financing a less expensive vehicle also means lower monthly payments and less interest paid over time.

Auto insurance premiums are calculated based on your driving record, location, vehicle value, and coverage level — not simply the engine type. A newer, higher-value EV will likely cost more to insure than an older, lower-value gas car, simply because of the vehicle's replacement cost. Always get actual quotes before assuming one type will be cheaper to insure.

Registration fees can also differ. Some states charge additional fees for EVs to offset the loss of gas tax revenue, while others offer EV incentives. Check your state's DMV or equivalent agency for current rules.

For a category-by-category reference on what student car ownership typically costs annually, visit our student car costs reference. And if you want to understand how fuel type shapes the entire ownership experience beyond just cost, our fuel type ownership guide provides useful context.

The Charging Access Problem Students Need to Solve First

Before comparing EV savings to gas costs, ask one practical question: where would you charge? Students living in on-campus dorms or older apartment buildings often have no access to a dedicated outlet for overnight charging. Relying entirely on public charging networks introduces variability in cost, availability, and time.

If you live in a house or an apartment with a dedicated parking space and landlord permission, Level 2 home charging (requiring a 240-volt outlet installation) becomes a viable option that makes EV economics much more favorable. Without it, the per-mile cost advantage of electricity shrinks or disappears.

Our true cost of commuting guide walks through how to account for all commuting-related expenses — including parking and infrastructure realities — so you can build an honest budget before committing to either vehicle type.

This article provides general educational information about vehicle running costs and is not personalized financial or purchasing advice. Costs vary by region, vehicle model, driving habits, and individual circumstances. Consult relevant professionals and verify current rates in your area before making any financial decision.