Better for the environment, maybe… but not better for the pocketbook

InflationMoney MattersElectric VehiclesHigh Tech / High Touch
Written By Jennifer Joslyn

💰 Better for the environment, maybe… but not better for the pocketbook.

At the close of 2022, consulting firm Anderson Economic Group (AEG) concluded that internal combustion fuel-powered vehicles were the cheaper option for consumers - as opposed to electric vehicles. The point of contention lay with the increasing costs of energy in the form of gas, diesel, and electricity. By Q4, the average cost for a gas-powered car to drive 100 miles was $11.29. That is approximately $3 less than the cost of charging a vehicle at a charging station and 31 cents less expensive than charging a vehicle at home.

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Jennifer Joslyn
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