As inflation creeps up and tariffs loom large on the horizon, Americans are looking for a number of ways to save, including on fuel costs. Getting around town can be pricey depending on where you live, what kind of vehicle you drive, and if that car is electric-powered or standard gas.
Find Out: How Much Does It Cost To Charge a Tesla?
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As an experiment, GOBankingRates reached out to a few automotive experts to do the math on what it costs to charge a Tesla every month against filling up a Jeep Grand Cherokee with gas.
“There isn’t a world where EVs are going to be more expensive than gas, but I also feel like this is the wrong question,” posited Joseph Nagle, the head of corporate strategy at Pando Electric. “It is where are people charging?”
Here’s how Nagle broke down in terms of dollars to drive.
The Cost Breakdown
Tesla
- Tesla efficiency = 4 miles per kWh
- National kWh average = $0.16
- Cost to fill = ~$48
Read More: Here’s What It Costs To Charge a Tesla Monthly vs. Using Gas for a Nissan Altima
Jeep Grand Cherokee
- Jeep efficiency = 21 mpg
- National gas price average = $3.10 per gallon
- Cost to fill = ~$177
So Which One Is Cheaper?
These prices will vary based on where people are located, Nagle pointed out, adding that it’s significantly cheaper to fuel a Tesla than a Jeep based on these calculations.
Nagle noted that if drivers charge at home, then his calculations will hold. On the other hand if EV owners rely on a public network, the kWh pricing is going to increase and in some cases significantly so.
“This is why it’s imperative for EV drivers to have access to charging where they live. If not, the costs are going to slowly shift into near parody,” according to Nagle.
Alex Black, who is the CMO of EpicVIN, agreed that on the whole it’s cheaper charging a Tesla at home, about three to four times less than refueling a Jeep Grand Cherokee at the fill-up station. However, Black was also quick to point out that charging a Tesla at home is where the real savings are to be had.
Black cautioned drivers to keep in mind one crucial component of the math: “If the owner of a Tesla regularly uses public fast charging, the cost grows. Some DC charging stations cost up to $0.40 to 0.50 per kWh — that’s $30 to $35 to be full.”
In brief, Nagle and Black’s highlighted that based on their calculations, Tesla wins the monthly “fuel” cost, if drivers are refueling at their own homes while anyone with a Jeep Grand Cherokee will pay much more at the pump.
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This article originally appeared on GOBankingRates.com: What It Costs To Charge a Tesla Monthly vs. Using Gas for a Jeep Grand Cherokee
