UK Drivers Set to Save 68.6% Of Yearly Fuel Costs by Switching From Fossil Fuel Cars to EVs

• Switching from fossil fuel cars to EVs saves up to £627.84 per year in fuel costs, reducing spending by an average of 68.6%.
• New diesel cars cost £808.51 and new petrol cars cost £888.42 to fill per year, while an EV costs just £265.82 to charge for a year.
• Due to regional electricity and fuel prices, Yorkshire & Humberside residents see the biggest yearly savings, with EVs reducing fuel spend by 3.1% more than other regions.

New research has revealed that UK drivers will reduce fuel expenditure by 68.6% when switching from fossil fuel cars to electric vehicles.

Analysts at YESSS Electrical have compared the cost per mile of charging an electric car to fuelling a new petrol or diesel car, based on current pump/energy prices.

They used the UK’s most popular EV, the Tesla Model 3 for the comparison, which achieves 4.4 miles per kilowatt-hour or 4p a mile with current kWh prices.

This was compared to a petrol car achieving 49.2 miles per gallon, costing 13p per mile, and a diesel car achieving 55.4 miles per gallon, costing 12p per mile. These are the average mpg statistics for new cars, according to the Department for Transport.

For motorists with older, less-efficient cars, switching to an electric vehicle would see a much higher saving in fuel costs than 68.6%.

The findings discovered that EV drivers pay just £265.82 per year to drive the UK’s average mileage. In comparison, new petrol car drivers pay £888.42 to fuel their car for a year’s travel, and diesel drivers spend £808.51.

While the average Brit will reduce spending on fuel by 68.6% with an EV, Yorkshire & Humberside residents see the biggest yearly savings of £549.93 for a diesel motorist and £627.84 for petrol, due to regional variations in electricity and fuel prices. This is a huge 69.5% decrease in fuel outgoings.

Behind Yorkshire & the Humber, the research found the East Midlands offers the second-highest cost cuttings, lowering fuel spend by 69.3%.

Drivers in London would save 68.6% of fuel costs when moving from a fossil fuel car to an EV. Drivers deliberating between a new fossil fuel or EV car will save between £542.69 and £622.60 with an electric car every year – and be exempt from ULEZ and congestion charges.

Although it’s still a substantial reduction, residents living in Merseyside and North Wales would see the lowest yearly saving of £563.21, a 66.4% reduction in fuel spend.

Mark Abbey, Director at YESSS Electrical said: “The cost of living is continuously getting more expensive, and with the rising fuel costs and Christmas approaching, the pressure to keep up can be overwhelming.”

According to ONS, transport is the highest expense for families, following mortgage and rent payments. The average household spends £354 on travel each month, with car fuel accounting for 27.3% of this figure.

“A lot of people also depend on their car to support their day-to-day life, and may struggle if they can no longer afford to keep their vehicles running.”

In a recent survey, 39% of those who said they were considering purchasing an EV in 2022 were prompted by the increasing fuel costs.

“Although electric cars require an upfront investment if you’re buying it brand new, it instantly reduces your monthly outgoings. You don’t need to worry about increasing petrol and diesel prices, or the fuel shortages we’ve seen in recent months. 

“Electricity and fuel prices vary by UK region, so UK residents in areas like Yorkshire & the Humber can save even more than the UK average.

“As well as saving money on fuel, EVs experience much less wear and tear than petrol and diesel cars resulting in minimal repair payments.”

heycar can offer our EV Data Hub that includes a host of information and data on everything EV. 

About YESSS Electrical

YESSS Electrical are the fastest growing electrical wholesaler in the UK with over 95 branches nationwide and have been established in Europe for almost 50 years. Locations include London, Sheffield, Leeds, Nottingham and even the Channel Islands. Each branch has a helpful knowledgeable team, with their own delivery drivers.

The YESSS EV & Energy department supplies EV charging, solar, wind, battery storage, and energy-saving options to customers and companies across the UK and Europe. They supply all major renewable energy brands and tailor each offering with marketing leading consultancy, ensuring the solutions offered are perfectly suited to each clients’ needs.

Through the electric vehicle charger range, YESSS Electrical offers domestic EV chargers, commercial and workplace EV chargers, along with a host of charging accessories to meet any requirement.