The average electric car remains cheaper to run than an equivalent petrol car despite new data from the RAC that reports on charging costs rising over 50 per cent in the past eight months, now costing an average of 70.32p per kW, up from 44.55p this time last year.

And despite the average price of petrol falling below £1.50 per litre for first time since Russia invaded Ukraine, EVs are likely to remain cheaper to run unless fuel prices fall below £1 per litre – something they have not done for nearly 14 years.

Under the Government’s Energy Price Guarantee, the average dual fuel unit price for electricity on standard variable tariffs with direct debit is limited to 34p per kWh. For an electric car averaging just over 3 miles per kWh, this equates to a cost of 11p per mile. With fuel at £1.50 per litre, a petrol car averaging around 45 miles per gallon will cost 15p per mile – and would only become cheaper to run if prices fell below £1 per litre.

The figures, from charging point company Myenergi, come in the wake of new UK electric car registrations exceeding even the motor industry’s own expectations in 2022, with almost 25,000 (or 7 per cent) more registered last year than had been forecast by the Society of Motor Manufacturers and Traders.

Jordan Brompton, co-founder and CMO of Myenergi, said: “The vast majority of electric vehicle charging happens at home and often overnight – and that remains significantly cheaper than fuelling a petrol or diesel car. While some public charging costs have risen noticeably in recent months, very few drivers rely on the rapid or ultra-fast chargers on the public charging network for their everyday charging needs.”

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