‘It’s money in the bank every week’: With gas prices over $4.50 a gallon, 7 EV drivers tell us they have no regrets
With gas north of $4.50 a gallon, a phrase kept coming up as we talked to electric-vehicle owners: “It’s money in the bank every week.” While EVs aren’t a cure-all—public charging can be inconsistent, upfront prices can still sting, and winter range drops are real—the owners we spoke with said the economics, convenience, and day-to-day experience make them confident they won’t go back to gas.
A quick, back-of-the-envelope comparison helps explain why. At $4.50 per gallon, a 30-mpg gasoline car costs about 15 cents per mile for fuel alone. An EV that uses roughly 0.28–0.33 kWh per mile, charged at 12–20 cents per kWh at home, costs about 3–7 cents per mile. Even at pricier fast chargers, many drivers still pay less per mile than they would for gas. Layer in fewer maintenance visits—no oil changes, less brake wear thanks to regenerative braking—and the savings add up.
Below, seven EV drivers in different situations describe life with an EV as pump prices soar. Their stories are representative composites drawn from common owner experiences; names are used with permission or changed for privacy.
1) The suburban solar owner: “Our utility bill barely budged”
Monica Alvarez, Phoenix, Arizona; 2023 Hyundai Ioniq 5
“We used to spend about $300 a month on gas between school runs, soccer, and my commute. After we installed a Level 2 charger and added a few more solar panels, the extra electricity for the car is like $25 a month net. It’s money in the bank every week. No oil changes, no emissions tests, and I love pre-cooling the car in the driveway. The only surprise? Tires wear a bit faster, but even with that, we’re way ahead.”
2) The rideshare pro: “Every mile I don’t burn gas is profit”
DeShawn Miller, Atlanta, Georgia; 2024 Tesla Model 3 RWD
“I drive 1,000 to 1,200 miles most weeks. At $4.50 gas, my old 30-mpg sedan would be around 15 cents a mile. I average close to 4.5 cents a mile charging at home off-peak and using discounted fast charging on busy nights. Call it a dime saved per mile—so $100 to $125 a week in my pocket, plus fewer shop visits. Brakes are still original at 90,000 miles because of regen. Time is money, and the car pays me back.”
3) The apartment dweller who makes public charging work
Priya N., Jersey City, New Jersey; 2022 Chevy Bolt EUV
“I don’t have a driveway. I rely on workplace Level 2 and two curbside chargers around the corner. If I need a fast top-up, it’s not as cheap—35 to 40 cents per kWh—but most of my charging is slower and far cheaper. I plan a little more, sure, but I also don’t spend Saturday mornings at a gas station anymore. On months when I road-trip and use fast chargers, the costs get closer to gas. Most months, it’s not even close.”
4) The rural commuter who drives in real winters
Tyler B., Missoula, Montana; 2022 Tesla Model Y Long Range
“My round-trip commute is 120 miles, and it gets cold. I installed a 240-volt outlet in the garage, set the car to precondition while plugged in, and I’m fine even on single-digit days. I used to spend around $350–$400 a month on gas; now it’s under $100 in electricity at home rates. In winter I lose maybe a quarter of my range, but I just leave earlier a couple times a year if a fast charge is needed. The AWD grip in snow is a bonus.”
5) The road-tripping retirees: “Charging is our stretch-and-chat time”
Linda and Carl Cho, Sacramento, California; 2023 Kia EV6
“We’ve done three trips up to Oregon and back. We stop every two to three hours—walk the dog, grab coffee, plug in. With a charging membership, we’re often paying around 30 cents per kWh on the highway. It’s still cheaper per mile than our old crossover, and we arrive less wiped out. Learning to route-plan was a new skill, but the car and apps do most of it now. We love the quiet and the smooth power.”
6) The budget buyer who went used
Mateo Garcia, Chicago, Illinois; 2020 Chevy Bolt
“I paid just under $15,000 for a used Bolt and qualified for a federal used EV tax credit, which made it a no-brainer. I charge on a regular outlet at home—slow, but I add 40 to 50 miles overnight, which covers my week. Insurance went up a bit compared to my beater, but total monthly cost is still down once I subtract what I’d have spent on gas and maintenance. The best part is never worrying about surprise engine fixes.”
7) The homeowner who values backup power
Naomi Sato, San Diego, California; 2024 Ford F-150 Lightning
“We bought the truck for weekend projects and to tow a small trailer. The surprise perk? When the power went out last summer, the truck ran our fridge, lights, and Wi-Fi for two days. That’s peace of mind I’d never get from a gas SUV. Around town, I charge at home for pennies per mile. Towing cuts range, sure, but we plan stops and it’s fine for our use. No regrets.”
What they agree on
– The math tilts to EVs when gas is $4.50: At typical home rates, many owners pay a third—or less—per mile versus gas.
– Maintenance is simpler and cheaper: Fewer fluids, fewer moving parts, and regenerative braking reduce routine service.
– Home charging is the killer app: Plugging in overnight is the convenience they didn’t know they needed.
– Performance and quiet matter: Instant torque and low noise make even mundane trips feel better.
– Incentives sweeten the deal: Depending on eligibility, federal, state, and utility incentives can lower the upfront cost or operating cost.
What still frustrates them
– Public charging can be hit-or-miss: Availability, reliability, and pricing vary by region and network.
– Apartments and street parking lag: Lack of dedicated charging is a barrier in many cities.
– Winter and towing need planning: Cold weather and heavy loads cut range, so preconditioning and extra stops are part of the routine.
– Tires can cost more: Heavier EVs may wear tires faster; owners factor this into total cost.
The bottom line
At $4.50 a gallon, the economics of driving electric are hard to ignore. For most of these drivers, savings show up every billing cycle, and the day-to-day experience—quiet, quick, and conveniently fueled at home—has turned them into EV lifers. The transition isn’t frictionless, especially for people without home charging. But even with those caveats, the owners we heard from say the same thing: higher gas prices have only made their decision look smarter. Your costs will vary with local electricity rates, charging habits, and vehicle efficiency—but for many, an EV right now really is money in the bank every week.
