Are Electric Cars More Cost Efficient Than Petrol and Diesel?

With the cost of fuel constantly rising, considering switching to electric cars is something many people have considered. From January to June 2022, the price of fuel has rapidly increased. The price of regular motor gasoline has risen to 49%, and the price of diesel to 55%.

Due to the cost of living crisis, people are looking for more cost-effective ways to own a car. The popularity of electric cars has increased by 14.6% in 2022, with over 22,000 registrations in June alone. Clean energy, improved performance, and more cost-effective to run are driving people to make the switch to electric vehicles. 

First of all, what is an Electric Car?

An Electric car is a vehicle that has a battery rather than a gasoline tank. It also has an electric motor, powered by a battery,  instead of an internal combustion engine. The cars need to be plugged in, in order to charge the battery and use the vehicle. 

The Future of Petrol and Diesel Cars

By 2030, the petrol and diesel ban will be put in place. The ban is being enforced to reduce greenhouse gas emissions and improve air quality. Unlike electric cars, petrol and diesel cars emit CO2, which is harmful to our environment. Britain currently has a legal target to cut greenhouse gases to net zero within 30 years time, and petrol and diesel cars are accountable for approximately 30% of these emissions. This makes electric cars a trustworthy investment, as they are becoming the future of vehicles. 

According to the Royal College of Physicians, traffic fumes are contributing to early deaths of approximately 40,000 people within the uk. Alongside Diesel vehicles producing astonishing levels of nitrogen oxide, which have been linked to lung cancer, heart disease and many other conditions. 

What are the financial benefits of an Electric Car?

Initially, the upfront cost of an electric car may be higher than a petrol car – however, in the long-run electric cars offset this cost by having lower running costs. 

Some benefits include:

  • According to Energy Saving Trust, a full charge electric vehicle will give a range of over 200 miles and will cost roughly £8-12 when charging at home. Whereas driving 200 miles in a petrol or diesel car will cost approximately £26-32 in fuel, meaning it is three times more expensive to run. 
  • Due to the fact that electric cars have less moving-parts than petrol and diesel cars, you can save a lot of money on servicing and maintenance costs as there is less to go wrong. 
  • The road tax of a car is dictated by the CO2 tailpipe emissions of your vehicle, its list price and its year it was registered. Electric cars do not emit CO2, therefore means that fully electric cars are excluded from Road Tax costs and you get a big saving!
  • Electric car users in London are eligible for the Cleaner Vehicle Discount. The Cleaner Vehicle Discount is £10 to sign up, and offers 100% discount meaning that electric car users do not have to pay congestion charges. 
  • Some places offer free parking for electric cars, providing convenient access. Thereby, you will end up saving money on parking. 

In short, electric cars are more cost effective and environmentally friendly to run. If you want to keep up to date about everything electric cars, check out our Twitter.

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