How much will it cost to drive an electric car for a year?

Yes, EVs are more expensive than gas cars. Thankfully, that statement will not be true into the future. However, fuel costs for an electric car are significantly less than the cost to gas up. Still, your savings depend on a critical variable.

Australian-based automotive publication and YouTube channel Drive.com.au aims to help consumers with vehicle buying decisions. The channel recently published a series of educational videos, including the above. Let's take a look at the details.

Drive makes it abundantly clear that the plug-in hybrid and all-electric cars will save you substantially in terms of fuel costs. But, you have to be careful about when you charge your EV.

For example, based on Australia's average gas and electricity prices, it will set you back $942 to gas up an Audi A1 Sportback for a year (15,000 km). A Toyota Prius hybrid will cost about $762. Fueling a Mitsubishi Outlander PHEV with a mix of gas and electricity costs around $533 per year, while charging a BMW i3s for a year comes in at $694.

However, here's the kicker. If you charge the i3s at peak hours, it could cost a whopping $1,195 per year. Conversely, if you charge during non-peak times, the electricity will only cost you $409 per year. This fluctuation is monumental compared to the little variation in prices at the gas pump.

How much have you saved by going electric? Share your story with us in the comment section below.

Video Description via Drive.com.au on YouTube:

Petrol Cars VS Electric Cars, The Cost Of Owning An Electric Car | Drive.com.au

EVs save you on fuel costs, but what are the other costs of owning an electric car? We breakdown the cost of fuel vs electricity for a full year of car ownership.