Gasoline prices escalate, is owning an electric car a priority?

Owning electric and hybrid cars is not cheaper than gasoline / diesel cars, this is the result of calculations by experts in the US.

Gasoline prices are reaching record highs globally. The US is no exception to that trend. According to Fox Business, gas price averaged 5.57 USD/gallon in the second week of March in California. The national average is about $4.32, up from $4.17. As for electricity prices, this page shows no price increases in recent times. Many charging systems even apply incentives to attract electric vehicle users.

This makes petrol / diesel car owners extremely “painful” and “heartbroken” every time they refuel. In contrast, electric and hybrid car owners gloat a lot. However, according to the overall calculation, at this gasoline price, the cost of using electric cars is still not much cheaper than gasoline / diesel cars. Meanwhile, the initial investment cost of customers using electric vehicles is quite high.

Toyota Sienna is equipped with a hybrid engine.

Depending on the vehicle type and charging speed at the station, charging the EV will take different time. DC level 3 fast charging station can fully charge 80% battery in about 18-40 minutes. For this rate, the Electrify America charging system will charge 3-31 cents/kWh.

However, that’s the case if you find a level 3 fast charging station. Usually, most people will have to charge their car at level 2, which makes charging much longer (about 8 hours). As a result, it is much faster to fill up with gas or diesel than to wait for the EV to charge. If traveling long distances, electric vehicle owners must also invest in researching charging points and resting times to save time.

Gasoline prices in the US. (Illustration)

According to calculations by carscoops, with the Ford Mustang Mach E electric car priced at $44,995, equivalent to more than 1 billion VND, users in the US can save 7,500 USD, equivalent to more than 170 million VND thanks to tax credits. The price of the car at this time is 37,495 USD, equivalent to more than 860 million VND. The vehicle’s range is 247 miles (400 km).

At that time, with an average operating level of 15,000 miles/year (equivalent to 24,140 km/year), the car owner will spend $650, equivalent to nearly 15 million VND if only charging at home, and $1,500, equivalent to 34.5 million VND. if charging externally at level 2 and 2,100 USD is equivalent to more than 48 million VND if only fast charging.

For Ford Escape Hybrid owners, the initial investment cost is 32,780 USD, equivalent to more than 750 million VND, fuel cost is about 2,050 USD, equivalent to more than 46 million VND. As for the regular gasoline-powered Ford Escape, the investment cost is $27,755 lower, equivalent to more than 630 million VND, but the fuel cost is higher than 2,800 USD, equivalent to more than 64 million VND.’