Why rising fuel prices have put running costs back in focus
With petrol and diesel prices climbing again, more drivers are asking are electric cars cheaper to run and whether now could be a good time to make the switch.
The latest official UK figures make that question particularly relevant. According to the Government’s weekly road fuel price statistics, average petrol prices reached 168.14p per litre in the week beginning 14 September 2026, while diesel reached 190.72p per litre.
Those prices have risen noticeably over the summer. At the beginning of July, petrol was below 150p per litre and diesel was around 165p, showing how quickly the cost of filling a conventional car can change.
Electricity prices have risen too, so electric driving is not automatically cheap in every situation. However, for drivers who can charge at home, particularly overnight, the difference in running costs can still be significant.
This guide looks at what UK drivers are paying for fuel now, how those figures compare with the cost of charging an electric car, and when an EV can offer the best financial case.
What petrol and diesel costs right now
UK fuel prices have experienced another sharp increase.
Government data for the week commencing 14 September 2026 shows average prices of:
- Petrol at 168.14p per litre
- Diesel at 190.72p per litre
For a typical 55-litre tank, that would equate to roughly £92 for petrol or £105 for diesel if filling from empty at those average prices.
The increase has been particularly noticeable since the summer. Government figures show petrol averaging 149.8p per litre in early July, while diesel fell to around 164.5p before beginning to climb again.
Recent reporting from The Guardian on rising UK pump prices also highlighted how quickly the increases have reached forecourts, with both the AA and RAC reporting significant rises during September as higher oil prices fed through to drivers.
For motorists covering a significant mileage every month, changes of this size can have a noticeable effect on household expenditure.
Unlike the price of petrol or diesel, however, EV owners potentially have more control over what they pay for the energy used to power their car.
How EV charging costs compare
The cost of charging an electric car depends heavily on where that charging takes place.
Home charging remains the strongest financial argument for electric ownership.
From 1 September 2026, HMRC’s advisory fuel rates calculate the electricity cost of a fully electric company car at approximately:
- 7p per mile when charging at home
- 15p per mile when using public charging
For comparison, the same official guidance uses petrol costs ranging from 14p to 27p per mile depending on engine size, while diesel ranges from 15p to 22p per mile.
These figures are specifically HMRC advisory rates for company-car mileage rather than a guarantee of what every private driver will pay, but they provide a useful, standardised comparison using current petrol and electricity costs.
The difference is particularly clear when home charging is available. On the HMRC figures, charging an EV at home can cost around half as much per mile as running many petrol vehicles.
The Energy Saving Trust’s EV charging guidance gives another useful comparison. It estimates the cost of adding around 220 miles of range at approximately:
- £17 when charging at home
- £37 using public fast charging
- £53 using public rapid charging
- £45 to cover a comparable distance using petrol
That demonstrates an important point. Electric cars can be considerably cheaper when charged at home, but public rapid charging can cost as much as or more than petrol.
Why home charging makes such a difference
If you can charge an EV at home, the economics become much more attractive.
The current Ofgem electricity price cap sets the average electricity unit rate for a household paying by Direct Debit at 26.11p per kWh until the end of September 2026. From October, that average rate changes only slightly to 26.32p per kWh.
Drivers can potentially pay considerably less than the standard rate by using an EV-specific or time-of-use electricity tariff.
According to MoneyHelper’s guidance on saving money with an electric car, home charging is usually the cheapest option, with a full charge for a medium-sized EV typically costing between £15 and £20 on a standard electricity tariff. Off-peak and EV-specific tariffs can reduce that cost further.
This ability to charge when electricity is cheaper is one of the biggest differences between EV ownership and conventional fuel.
You cannot choose to fill a petrol car overnight at a dramatically cheaper tariff, but an EV owner with a home charger and suitable electricity tariff may be able to schedule most charging for lower-cost periods.
For someone completing regular commuting miles, that difference can build up over the course of a year.
Are electric cars cheaper to run in everyday driving
For drivers with home charging, they often can be.
The Government’s own guidance on electric vehicle costs states that an EV can be cheaper to run than an equivalent petrol or diesel vehicle in many circumstances.
Charging is only part of the calculation. Electric vehicles have fewer mechanical components requiring routine maintenance. There is no engine oil to replace, no exhaust system, and fewer moving components in the drivetrain.
Government guidance also cites independent research suggesting that lower maintenance and repair requirements can produce average savings of around £700 per year compared with conventional vehicles.
That does not mean every EV will automatically cost less to own. Insurance, vehicle value, tyres, depreciation and charging habits all need to be considered.
However, when fuel prices are high and most charging can be completed at home, the running-cost argument becomes considerably more compelling.
What if you cannot charge at home
This is where the comparison becomes more balanced.
Drivers who rely entirely on public charging should not assume that an EV will automatically be cheaper than a petrol car.
HMRC currently uses 15p per mile as its public-charging advisory rate compared with 7p per mile at home.
Rapid and ultra-rapid chargers can cost more again. MoneyHelper notes that rapid public chargers commonly cost between 60p and 80p per kWh, depending on the network and location.
This means a driver relying heavily on motorway rapid chargers may see a much smaller saving, and in some circumstances could pay more for energy than they would for petrol.
The key question is therefore not simply whether an EV is cheaper. It is where will you charge it most of the time.
If you have a driveway or regular access to inexpensive workplace charging, the case can be very strong. If almost all charging would take place on expensive rapid networks, the numbers need to be considered more carefully.
Public infrastructure itself is continuing to improve. According to Department for Transport analysis of EV charging infrastructure, there are now considerably more public EV chargers across the UK than conventional fuel pumps.
That makes longer-distance EV ownership increasingly practical, even if charging at home remains the most cost-effective option.
Why used premium EVs make an interesting option right now
There is another part of the calculation that has changed significantly. The used EV market now gives buyers access to premium electric vehicles that originally carried much higher new-car prices.
Models such as the BMW i4, Polestar 2, Kia EV6, Mercedes EQB, BMW iX3 and Audi Q4 e-tron are increasingly available on the used market.
For buyers considering a premium car anyway, this can make the comparison particularly interesting.
Instead of comparing a brand-new EV against an inexpensive petrol car, buyers can compare similarly positioned premium used vehicles and then consider the difference in day-to-day running costs.
At Freewheel Autos, we specialise in carefully selected prestige electric vehicles. Every electric vehicle we sell is independently assessed using AVILOO battery testing technology, helping remove one of the biggest uncertainties buyers can have when considering a used EV.
Our used electric car range includes an independent Battery Health Certificate for each EV, giving buyers clearer information about the condition and usable capacity of the vehicle’s high-voltage battery.
That means you can consider the financial benefits of electric driving while also having greater confidence in the condition of the vehicle you are buying.
Is now a good time to consider an EV?
For drivers who can charge at home, current fuel prices make the argument worth revisiting.
Petrol at around 168p per litre and diesel above 190p per litre means conventional fuel costs are once again taking up a larger part of household motoring budgets. At the same time, HMRC’s current calculations put home EV charging at around 7p per mile. That does not make an EV the right choice for everyone as your annual mileage, access to home charging, the type of journeys you make and the vehicle you choose all matter.
However, if you regularly cover significant mileage and can complete most of your charging at home, the difference between electricity and current petrol or diesel prices can be substantial.
It is also worth remembering that fuel prices can move quickly. The sharp changes seen throughout 2026 demonstrate how exposed petrol and diesel drivers can be to changes in global oil markets.
Electricity prices fluctuate too, but home charging gives EV drivers options such as off-peak tariffs and scheduled charging that are simply not available when buying fuel from a forecourt.
Choosing a car with running costs in mind
The recent rise in UK fuel prices is another reminder that the purchase price of a car is only one part of what it costs to own.
For drivers who can charge at home, electric cars can offer considerably lower energy costs per mile, particularly when combined with an off-peak tariff. Lower maintenance requirements can strengthen that argument further.
Public charging is a significant factor, and drivers who depend heavily on rapid chargers should compare costs carefully before making the switch.
But for the right driver, particularly someone looking for a premium used vehicle, an EV can make a great deal of sense right now.
At Freewheel Autos, we specialise in prestige electric vehicles and can help you understand battery health, charging, range and specification before choosing your next car.
Browse our current selection of used electric cars or speak to the team if you would like to compare the options available.
If you are still working out which type of vehicle best suits your needs, continue with our guide to How to Choose the Right Used Car in the UK.
If you are looking for a used electric car, Freewheel Autos can help you find a vehicle that fits your needs, budget and driving habits.
To find out more please contact us.
Email – sales@freewheel.autos
Telephone – 01257 650654