Now That Gas Is More Than $4 a Gallon, How Much Can an EV Save You? [CNET News]
Tesla, Inc. (TSLA)
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Source: CNET News
For years, there's been a reliable cost equation for electric vehicles: You'll spend a little more up front to purchase the EV compared to a traditional internal-combustion engine automobile, but you'll recoup that money gradually via the savings from charging your car instead of buying gasoline. But how much does EV charging really save you compared to filling a gas tank? A quick survey of Reddit threads indicates no clear consensus from drivers. In one corner, new EV owners say they're saving hundreds of dollars a month by charging at home. In the other, skeptics claim that pricey public superchargers and the cost of installing a home charger can quickly erase any supposed savings. The deeper we burrowed down the Reddit rabbit hole, the more we found that not all Americans are ready to join the EV revolution. We heard the same message in a CNET survey from summer 2024, which found 43% of US adults have concerns about purchasing EVs. About 21% of respondents cited charging cos
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