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§ 04 — Vehicle

Is an EV really cheaper to run?

The honest answer is “it depends on your state, your kilometres, and whether you charge at home or on a fast charger.” Plug in your numbers below and we'll spell out the five-year fuel bill, side by side.

Updated · May 2026·Source: AER · FuelCheck · RACQ·Read · 7 min

Your inputs

km / year

Petrol car

e.g. Corolla, Camry

Electric vehicle

e.g. BYD, Tesla, MG

Home rate; fast charging averages ~55¢/kWh.

5 years

Inputs local. Nothing sent anywhere.

The result

EV saves you · over 5 years

$7,224

in fuel/energy costs alone · 67% cheaper to "fill"

Petrol car

$10,800

Electric vehicle

$3,576

Cost per 100km
Petrol
$14.40
Cost per 100km
EV (home)
$4.77
Annual saving
$1,445
CO₂ saved · year
0.6 t

Calculation excludes purchase price difference, depreciation, insurance, servicing, and tyres. EVs typically have lower servicing (~$300/year less) but higher insurance and tyres. Add purchase price and depreciation for total cost of ownership.

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When the EV maths actually works

The “EVs are cheaper” claim sounds simple, but it has three big asterisks: how many kilometres you drive, where you live, and how you charge. Move any of those three and the maths swings dramatically.

A mid-size petrol car at 7.5 L/100km costs about $14.40 per 100km at $1.92/L. The same 100km in an EV charged at home (16.5 kWh) costs $4.77at 28.9¢/kWh. Drive 15,000 km a year and that's ~$1,440 saved annually.

But if you mostly fast-charge on the road (55¢/kWh average), the EV cost climbs to $9.08/100km — still cheaper, but the gap halves. Apartment dwellers without dedicated parking should run the numbers carefully before committing.

§ Letters & replies

EVs, answered.

The questions Australians ask before pulling the trigger on their first EV.

At what annual mileage does an EV start paying off?+ open

As a rule of thumb in 2026: above ~10,000 km/year an EV beats petrol on running costs at home rates. The purchase-price premium typically pays back in 5–8 years if you do 15,000+ km/year. Below 8,000 km/year, the savings are marginal.

What if I can't charge at home?+ open

Public fast charging in Australia averages 50–60¢/kWh. That roughly doubles the EV running cost — still cheaper than petrol, but the gap shrinks from ~3× to ~1.5×. Apartment dwellers without dedicated parking should run the numbers carefully.

Do you include depreciation?+ open

Not in this tool — only fuel/energy. EVs currently depreciate faster than petrol equivalents (battery uncertainty), but tax breaks like the FBT exemption on novated leases can swing total-cost-of-ownership heavily back the EV's way.

What about hybrids?+ open

A self-charging hybrid (e.g. Toyota Camry Hybrid) at ~4.5 L/100km costs about $8.64/100km — between petrol and full EV. PHEVs depend on whether you actually plug them in; if you mostly run on petrol they're not much different from a regular hybrid.

Next: the rest of the running-cost picture

§ 05 — Vehicle

Fuel cost calculator

Spend per trip, week, month and year — current bowser prices.

§ 06 — Home

Solar panel ROI

Pairs perfectly with an EV — charging at home with free sunshine.

§ 02 — Loan

Mortgage repayments

What's left over for that EV after the mortgage takes its cut.