Cost per mile comparison
| Fuel type | Cost per mile | Annual cost (12K miles) |
|---|---|---|
| Gas at $2.98 (pre-war) | $0.11/mile | $1,320 |
| Gas at $3.57 (current) | $0.13/mile | $1,560 |
| Gas at $4.50 (if war continues) | $0.16/mile | $1,920 |
| Electricity (home charging) | $0.04/mile | $480 |
| Electricity + solar panels | ~$0.01/mile | ~$120 |
Why EV owners don’t feel the oil shock
Residential electricity rates are regulated by state utility commissions and change slowly — usually once or twice per year after public hearings. Gas prices change daily based on global commodity markets.
This means EV owners have fuel price security that gas car owners don’t. Even if electricity rates rise 5-10% due to the war (via natural gas generation), that’s far less than the 20-40% gas price spike.
The solar panel advantage
Homeowners with solar panels and an EV are essentially energy independent from the oil market. Their car runs on sunshine, and their electricity bill is near zero. This combination provides the strongest possible hedge against energy price shocks from conflicts like the Iran war.
Sources: American Prospect, The Week