UK Electric Vehicle Charging Costs Fall Below Petrol and Diesel for First Time in Over a Year, While Purchase Prices Also Converge
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 (e.g., on-street or in a car park) is approximately 15 pence per mile, assuming typical vehicle efficiency and a national average electricity rate of 54p per kWh. This compares with 17p per mile for a typical petrol car and 17.5p for a diesel car. The price differential is attributed to steep increases in the cost of liquid fuels since the onset of the conflict in Iran. For EV drivers who use an 80/20 mix of standard and rapid public charging, the per-mile cost rises to around 16p. Only those relying exclusively on ultra-rapid public chargers continue to pay more than liquid fuel users. Home charging remains substantially cheaper, at as little as 2p per mile, partly because domestic electricity is subject to a 5% VAT rate compared to 20% for public charging points. Despite these savings, the UK retains the highest public charging costs in Europe, a point noted by Melanie Shufflebotham, co-founder of Zapmap, who stated that the cost saving for drivers using a typical home/public split is at its highest level since May 2024, but welcomed measures to reduce public charging costs to support the transition 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, which is £785 less than the average price of a new petrol model at £43,405—the first time new EVs have been cheaper than petrol equivalents. Autotrader’s chief customer officer, Ian Plummer, attributed this price convergence to sustained manufacturer discounting and government grants, and noted a significant increase in consumer interest in EVs following recent petrol price hikes. He described the milestone as key to overcoming the upfront price barrier to electric adoption. The Labour government has announced a policy to prohibit the sale of new fully petrol or diesel cars and vans from 2030, with only zero-emission models permitted 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 comparatively expensive within Europe.