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Electric vehicles more expensive to fuel than gas-powered cars at end of 2022: consulting firm

Research shows that rising electricity prices and stabilizing gas prices made internal combustion engine cars more economical than their electric counterparts in late 2022

For the first time in more than a year, owners of traditional gas-powered cars saved more money at the pump than those driving their electric counterparts, according to a consulting firm.

As inflated gas prices came down at the end of last years, the fuel cost for most Internal Combustion Engine (ICE) vehicles was comparatively cheaper in the final quarter of 2022 than charging an electric vehicle (EV), analysts with the Anderson Economic Group (AEG) said.

The cost to drive 100 miles in a gas-powered car dropped by more than $2 in October, November and December 2022. And with electricity prices rising last year, mid-priced ICE cars became more economical than EV cars for the first time in 18 months, the firm said.

AEG’s cost analysis looked at the underlying cost of energy for gas, diesel and electricity, as well as road taxes and fees, added costs to operate pump or EV charger and the cost to drive to a fueling station. The costs were calculated for vehicles driving 12,000 miles per year.

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4 thoughts on “Electric vehicles more expensive to fuel than gas-powered cars at end of 2022: consulting firm”

  1. Concerned Retiree

    This tells me how ignorant / stupid / political / money scheme people are. You have to buy the fossil fuel to produce the electric to use to charge these RICH PIECES OF SHIT. You have to buy the fossil fuel then you have to buy the electric from the charging stations which you have the expense of getting installed.
    gas engines electric cars

    buy fossil fuel pay for charging stations
    pay for the fossil fuels to get electric for charging
    pay for electricality to use in cars
    Added tax to cover fuel tax for road upkeep

    Now tell me which is cheaper

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