The recent increase in electricity prices as well as petrol prices begs the question. How much does it cost to charge electric cars compared to fueling petrol cars? These increases consisted of electricity tariffs going up by 9.61% and an increase in petrol price of 28 cents per litre in April 2022.
I’m going to provide you with a real-life example of the price differences between how much it is to charge an electric car to 100% and how much it will cost to fill up an ICE vehicle with a tank of petrol.
Electricity price increases and the impact on electric cars
Take the full battery-electric Audi RS e-tron GT electric car as an example. Which has a 95kWh lithium-ion battery, then let’s compare the recent tariff increases for electricity by the national regulator of 9.61%.
If you think about it, the electricity price per kilowatt-hour was about R2,30 before the 2.61% electricity price increase. It, therefore, costs roughly R220 to fully charge the Audi RS e-tron GT 2022.
A side note – Nobody drives an electric car full to zero!
With the current increase of 9,61% in electricity prices, which is an increase of roughly 30 cents per kilowatt-hour. Which gives you a new electricity price of roughly R2,60 cents per kilowatt-hour. If you multiply that out in terms of the Audi RS e-tron GT and its battery capacity, it costs roughly R28 more to fill this electric car.
How the petrol price increase impacts an ICE vehicle
Let’s now compare the above with the price of fossil fuels (petrol). In April 2021, fossil fuel – 95 unleaded octane cost, was roughly R17,30 per litre. It would therefore cost you around R865 to fill up an average car with a 50-litre petrol tank.
Whereas in April 2022, the price of petrol is just under R22. About R4,60 as an increase in the price per litre of petrol. That’s a rough total of just over R1 100 to fill up an average ICE vehicle. R235 more!.
Let’s compare electric cars vs ICE vehicles side by side:
The electricity price increase impacts the running cost of an electric car by about R20 per “tank”.
The petrol price increase over the same period impacts the running of an internal combustion engine vehicle by about R250 per “tank”.
More than a 10X difference.
It’s therefore a no-brainer that electric cars are much more efficient and cost-effective to run.
Electric cars are also cost less to maintain and the reason I say this is as follows:
- I live with an electric car that I use daily. The Jaguar I-Pace.
- You don’t have to service or replace oils,
- The everyday running cost of running an electric car is significantly cheaper based on pure fuel costs.
This doesn’t only go for the Audi RS e-tron GT. All-electric cars fit into this reasoning!
Not only because it’s good for the environment, but because it’s just cost-effective. If you take the long-term cost of an EV and apply a present value calculation, is the overall cost of an electric car lower than an ICE vehicle.