Chevy Bolt driver says 10,000 miles can save about $500 in fuel costs compared with cheap gas

"I'm pretty sure that nobody in the United States will ever again get gasoline for $2.50 a gallon."

A Chevy Bolt owner says that even if gasoline were priced at $2.50 per gallon, the electric vehicle would still cut fuel costs by about $500 over 10,000 miles.

The driver posted the calculation in Reddit's r/BoltEV community.

Here's what to know

According to the original poster, driving a gas car that gets 25 mpg at $2.50 a gallon would cost about $1,000 over 10,000 miles. By comparison, they said an EV that averages 3 miles per kWh would use roughly 3,334 kWh over the same distance, which at $0.15 per kWh would come to about $500.

Several other EV owners said the savings could be even larger. One commenter wrote that gasoline at $2.50 a gallon was unlikely to return.

Another said they drive at least 100 miles a day and save so much on fuel compared with their former 35-mpg car that the difference is greater than their monthly Bolt payment.

A third user agreed with the basic math but argued that a Bolt would likely do better than 3 miles per kWh. They added that at $4 per gallon and 4 miles per kWh, 10,000 miles would cost about $1,600 in a gas car and about $375 in a Bolt.

Commenters also noted that EV ownership can reduce other maintenance costs, not just fuel expenses. One person said avoiding oil and transmission fluid changes brought their annual savings to nearly $500.

Anyone thinking about switching to an electric vehicle should weigh local power prices, gasoline prices, vehicle efficiency, and yearly driving habits. Still, the discussion showed how many drivers have significantly reduced their fueling costs by going electric.

Where can I learn more?

How much an EV saves depends on the cost of charging and how far it is driven.

One Chevy Bolt EUV owner said cheap charging and a tax break made their driving profitable.

Another Bolt owner's Level 1 charging question led to an estimate of $71 per month.

One comparison of EV charging and gasoline put the break-even gas price at $1.14 per gallon.