OVL Lease Blog

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Petrol vs electric – cost comparison

11/07/2022

Petrol vs electric – cost comparison

With the price of fuel big news right now and prices rising higher by the week, we thought it would be interesting to look at how much it costs to run an electric car vs a petrol car.

Here’s a roundup:

Just over 4.5 litres makes up a UK gallon 

If your car’s MPG is 40, this means you can drive 40 miles for every gallon of fuel in your tank (or just over 4.5 litres)

A Vauxhall Corsa 1.2’s real life MPG is around 40 MPG

The average cost per litre of fuel at the time of writing this is  £1.90 per litre (we’ve rounded this up to keep things simple.)

£1.90 (per litre) x 4.5 (litres) = £8.55

So in your Vauxhall Corsa 40 miles will cost you approximately £8.55. That’s 21pence per mile. 

Let’s now look at an equivalent all electric car 

The E-208 all electric from Peugeot. 

The electric cost per mile on this vehicle is worked out at 6.83p

So, 40 miles would cost you approximately £2.73

£5.82 less than the petrol Corsa. 

Also, it’s worth remembering all electric cars have zero road tax, another saving.

Assuming you are covering 10,000 miles a year then you would spend

Petrol - £2,100

Electric – £683

Saving - £1,417 per year - £118 per month towards your lease.

These savings on fuel and road tax certainly go some way towards paying for your monthly leasing cost and if you are able to charge your car mostly for free or from a renewable energy source (solar panels for example) you may even find your leasing costs are covered entirely by fuel savings.  

Contact us today if you’d like any advice on your next lease car - email sales@ovl.co.uk or call 01491 615500