The sticker price is where petrol cars win and where the conversation usually stops. But total cost of ownership (TCO) — purchase, fuel/energy, maintenance, and depreciation over the years you actually keep the car — tells a different story. Over a typical five-year hold, the running-cost gap often overturns the price gap. Here’s how the maths works. (Figures are US-based and approximate at ≈₱61 = US$1; your numbers depend on local energy prices and mileage.)
Purchase price: petrol’s head start
EVs still tend to cost $5,000–$10,000 more (~₱305,000–610,000) up front than a comparable petrol car, though the gap is closing fast as battery costs fall — down nearly 89% since 2008. Incentives, where they exist, narrow it further. Treat the higher price as a real cost, but not the whole picture.
Fuel vs energy: the biggest swing
This is where EVs claw the money back. Charging at home is typically 40–65% cheaper per mile than buying petrol. Over five years at 15,000 miles a year, studies put an EV’s energy cost at around $2,250 (~₱137,000) versus roughly $9,000 (~₱549,000) for a petrol car at average US rates — a swing of about $6,750 (~₱412,000) on energy alone. The catch: if you rely on public fast-charging, which can cost several times home rates, that advantage shrinks.
Maintenance: fewer moving parts
An EV has no oil changes, no spark plugs, no exhaust, and — thanks to regenerative braking — brake pads that last far longer. Independent estimates put EV maintenance at roughly 30–50% less than a petrol car (on the order of $900 vs $1,200 a year, ~₱55,000 vs ~₱73,000). It’s not zero — tyres, cabin filter, brake fluid, and battery health still need attention — but the routine bills are smaller.
Depreciation: the wildcard
The one place EVs can lose ground is depreciation. Values have been less predictable than petrol cars, swayed by battery-tech improvements, incentive changes, and buyer confidence in used-battery health. It can go either way, so it’s the number to watch most closely for your specific model. Our guide to car depreciation explains how to lose less either way.
Putting it together
Add it up and recent 2025 analyses land in a consistent place: for a typical 15,000-mile-a-year driver, an EV tends to deliver lifetime savings of about $6,000–$12,000 (~₱366,000–732,000), as fuel and maintenance savings outrun the price premium over five-plus years. The EV wins least when you drive very few miles (small fuel savings), charge mostly in public, or the car depreciates sharply — and most when you drive a lot and charge at home.
Not sure which powertrain fits? Start with EV vs hybrid vs plug-in hybrid, and if you’re weighing running costs generally, see how much a car costs per month. Ready to shop? Compare the best EVs of 2026 and see the best EV for your budget.
Track your own real number
Averages are a starting point — your true cost depends on your electricity tariff, your mileage, and your car’s depreciation. The only way to know is to log it: every charge or fill-up, every service, every renewal.
That’s what Kotselog is for — capture energy, maintenance, and expenses per vehicle and it shows your real cost per km (or per mile), petrol or electric. See the expenses & cost-per-km feature, or open the app and start logging.
Cost figures are approximate, US-based, and vary widely with energy prices, mileage, model, and incentives — treat them as ballpark, not a quote.
Frequently asked questions
Is an EV cheaper than a petrol car over five years?
For many typical drivers, yes — recent studies find lifetime savings of roughly $6,000–$12,000 for someone driving about 15,000 miles a year, because fuel and maintenance savings outweigh the higher purchase price. The result depends heavily on your electricity price, mileage, and how each car depreciates.
How much do you save on fuel with an EV?
A lot. Charging at home is typically 40–65% cheaper per mile than petrol. Over five years at 15,000 miles a year, an EV's energy might cost around $2,250 versus roughly $9,000 for a petrol car at average US rates.
What's the catch with EV total cost?
Two things: a higher upfront price (often $5,000–$10,000 more, though narrowing) and less predictable depreciation. Public-only charging and very low annual mileage also shrink the savings.
How Kotselog helps: Track every expense and learn what your car truly costs to run. See the expenses feature →
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