Owning an electric vehicle (EV) is cheaper than a fuel car as petrol and diesel costs continue to bite UK motorists.
According to a research published today by Insurance Revolution, EV owners can save up to £1049 annually compared with petrol or diesel car users, who on average spend around £1,000 a year on fuel.
Data showed it’s cheaper to recharge the average electric car compared to refuelling, as it costs around £16 to fully power it compared to the current £98 and £101 for fuel and diesel cars respectively.
Even though EV premiums are more expensive, maintaining an electric car costs around £570 a year, 62.9 per cent less than a fuel vehicle.
“The long-term savings to be made through owning an EV is definitely an incentive to switch to sustainable driving,” said chief executive Mark Rigby.
“While drivers may have to pay a bit more upon purchasing the vehicle, savings can be made straight away with the ability to avoid fuel costs.”
The research was published on the same day petrol prices reached almost £2 per litre after oil prices reached $120 a barrel, City A.M. reported.