UK Electric Vehicle Charging Costs Fall Below Petrol and Diesel for First Time in Over a Year, While Purchase Prices Also Drop Below Petrol Models
Introduction
Recent data indicates that the per-mile cost of charging an electric vehicle (EV) at standard public chargers in the UK has become lower than that of petrol or diesel for the first time in over a year, driven by rising fuel prices. Additionally, the average purchase price of new EVs has dropped below that of new petrol models.
Main Body
According to analysis by industry body Charge UK, based on figures from RAC Fuel Watch and Zapmap, the average cost of using a standard public charger (for example, on-street or in a car park) is about 15 pence per mile. This assumes typical vehicle efficiency and a national average electricity rate of 54p per kWh. For comparison, a typical petrol car costs 17p per mile, and a diesel car costs 17.5p per mile. The price difference is due to large increases in the cost of liquid fuels since the start of the conflict in Iran. For EV drivers who use a mix of 80% standard and 20% rapid public charging, the per-mile cost rises to around 16p. Only drivers who rely entirely on ultra-rapid public chargers still pay more than liquid fuel users. Home charging remains much cheaper, at as little as 2p per mile. This is partly because domestic electricity has a 5% VAT rate, while public charging points have a 20% VAT rate. Despite these savings, the UK still has the highest public charging costs in Europe. Melanie Shufflebotham, co-founder of Zapmap, noted that the cost saving for drivers using a typical home/public split is at its highest level since May 2024. She welcomed measures to reduce public charging costs to support the move to sustainable transport. Separately, analysis by Autotrader found that the average list price of a new EV on its platform has fallen to £42,620. This is £785 less than the average price of a new petrol model, which is £43,405. This is the first time new EVs have been cheaper than petrol equivalents. Autotrader’s chief customer officer, Ian Plummer, said this price convergence was due to ongoing manufacturer discounts and government grants. He also pointed out a significant increase in consumer interest in EVs following recent petrol price rises. He called this milestone important for overcoming the upfront price barrier to electric car adoption. The Labour government has announced a plan to ban the sale of new fully petrol or diesel cars and vans from 2030, with only zero-emission vehicles allowed from 2035.
Conclusion
The simultaneous reduction in both running costs and purchase prices represents a notable shift in the economic viability of electric vehicles in the UK, although public charging infrastructure remains relatively expensive compared to other European countries.