The global spike in inflation, crippling supply shortages and geopolitical sanctions are soaring fuel and electricity prices, and hitting the wallets of all Australians.

Despite the higher upfront price tag, a key selling point of battery-electric vehicles is cheaper running costs compared to traditional internal combustion engine counterparts.

But how do the savings of an EV compare in 2022?

For the purposes of this story, we’ll compare an entry-level EV model with the most comparable petrol, petrol-hybrid or diesel model using claimed energy (kWh/100km) and fuel (litres/100km) consumption figures based on the stricter, but still conservative, combined WLTP testing cycle.

We’ll work to the fact that the average Australian drives 15,000km per year (or 41km per day).

Our sums are based on the average home off-peak overnight electricity tariff in New South Wales at $0.34 per kWh and the most common 50kW DC fast charging station at $0.40 per kWh for those who need to rely on public EV infrastructure.

At the time of writing, average national fuel prices – excluding the temporary 22.1 cent fuel excise cut which is due to end in September – currently cost $2.22 per litre for 94RON E10 unleaded, $2.44 per litre for 95RON premium unleaded, $2.30 per litre for 98RON premium unleaded and $2.57 per litre for diesel. It’s worth noting that these prices sit near the bottom end of the fuel cycle at the time of writing.

How much does it cost to fuel a petrol car vs charge an electric car in 2022?

NOTE: Figures in this story are a guide only. Costs are subject to change and WLTP consumption ratings often do not reflect reality as it depends on a variety of factors, including driving behaviour, weather conditions, climate control use and more.

MG ZS EV vs ZST

MG ZS EV (home charging)  MG ZS EV (public charging)  MG ZST (94RON E10) 
Running cost/year  $882.30 $1,038 $2,343
Running cost/week  $16.92 $19.91 $44.93

As one of Australia’s most affordable new electric cars, the MG ZS EV is about to receive a major facelift with an all-new lithium-iron-phosphate (LFP) battery pack, upgraded tech, and refreshed looks in line with its petrol-powered ZST sibling that debuted in 2020.

Opting for the pure-electric small SUV (17.3kWh/100km) could save around $28 per week or $1461 per year in running costs if owners can charge overnight at home compared, to filling up with the most affordable 94RON E10 unleaded petrol.

Depending on a public fast charging station still saves about $25 per week or $1305 annually in ‘fuel’ costs for the ZS EV compared to the turbocharged petrol ZST (7.1L/100km).

Kia Niro EV vs Seltos

Kia Niro EV (home charging)  Kia Niro EV (public charging)  Kia Seltos w/ 1.6L turbo (94RON E10) 
Running cost/year  $826.20 $972 $2,508
Running cost/week  $15.84 $18.64 $48.10

The South Korean automaker has introduced the all-new Kia Niro EV to Australian shores with an available unique contrasting C-pillar design, vehicle-to-load (V2L) capabilities, and similar dimensions to the popular, soon-to-be facelifted Seltos small SUV.

Compared to the Seltos with its optional 1.6-litre turbo-petrol engine (7.6-L/100km), the Niro EV (16.2kWh/100km) is about $32 per week or $1682 per year better off if owners can top-up at home.

Those figures cut to around $29 per week or $1536 per year in running cost savings if solely using public EV fast chargers.

Hyundai Ioniq 5 vs Palisade

Hyundai Ioniq 5 RWD (home charging)  Hyundai Ioniq 5 RWD (public charging)  Hyundai Palisade w/ 2.2L (Diesel) 
Running cost/year  $912.90 $1,074 $2,814.15
Running cost/week  $17.51 $20.60 $53.97

Although the retro-inspired Hyundai Ioniq 5 and buff three-row Palisade might be polar opposites on the outside, the former’s dedicated EV underpinnings mean they share the same long wheelbase and interior space.

The Ioniq 5 rear-wheel drive (17.9kWh/100km) is around $36 per week or $1901 per year cheaper to charge at home compared to refilling the tank of the Palisade with its 2.2-litre diesel unit (7.3L/100km).

If owners rely on public EV fast charging infrastructure, the Ioniq 5 can still potentially save around $33 per week or $1740 annually compared to running a diesel-powered Palisade.

NOTE: It could be argued that the Ioniq 5 should be compared with the Tucson, which is also a five-seater, but we’ve chosen the Palisade based more on price and overall size.

Tesla Model Y vs Toyota RAV4 Hybrid

Tesla Model Y RWD (home charging)*  Tesla Model Y RWD (public charging)*  Toyota RAV4 Hybrid 2WD (94RON E10) 
Running cost/year  $708.90 $834 $1,551
Running cost/week  $13.60 $15.99 $29.75

*Energy consumption figures for the Tesla Model Y rear-wheel drive (RWD) is based on estimated information from zecar. Tesla does not disclose all numbers for its vehicles.

The much hyped Tesla Model Y is finally available to order Down Under that adds the crossover SUV formula to the ubiquitous Model 3 sedan. But is it cheaper to run than the booming Toyota RAV4 Hybrid?

The base Model Y RWD (13.9kWh/100km) still saves owners about $16 per week or $842 per year in running expenses when charged at home compared to the RAV4 Hybrid (4.7L/100km), despite its frugal petrol-electric hybrid motor.

Charging only at public EV fast chargers brings the Model Y’s savings slightly down to around $14 per week or $717 per year in running costs versus the RAV4 Hybrid.

Mercedes-Benz EQC vs GLC

Mercedes-Benz EQC 400 (home charging)  Mercedes-Benz EQC 400 (public charging)  Mercedes-Benz GLC 300 (98RON) 
Running cost/year  $1,091.40 $1,284 $3,073.95
Running cost/week  $20.93 $24.62 $58.95

With an all-new model looming from Stuttgart, the Mercedes-Benz EQC continues strong in the EV sales race as our inaugural Wheels COTY 2019 winner.

Compared to its GLC (8.1L/100km) derivative which demands a minimum of 98RON premium unleaded petrol, the battery-electric EQC (21.4kWh/100km) is about $38 per week or $1983 per year cheaper to run when charged at home.

Meanwhile, charging the medium SUV on public EV infrastructure reduces those savings to around $34 per week or $1790 per year in running expenses versus the petrol-powered equivalent.

COMMENTS

Keyword: How much does it cost to charge an EV vs fuel a car in 2022?

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