Tesla Motors Inc (TSLA), General Motors Company (GM) – Pump vs. Plug: The True Cost of Electric Vehicles

Page 1 of 2

Pump prices have the ability to make or break an average American’s day, month, or year. But while gasoline stations fight over tenths of cents to tempt your tank, electric vehicle “plug prices” have remained a mystery – until now. A new tool reveals all, and the results are astonishing. Let’s take a look to see whether pump prices or plug prices are the real pocket pinchers.

Tesla Motors Inc (NASDAQ:TSLA)

Pump vs. plug
The Department of Energy unveiled its “eGallon calculator” this month, a shockingly simple tool to compare state-specific pump prices to plug prices. While gas prices scream at us from street signs, electric vehicle driving costs are nowhere to be found. eGallon changes all that, opening up information for consumers to make cost-conscious decisions about what to drive.

Source: Wikimedia Commons

Looking beneath national numbers, eGallon’s data are state-specific and constantly refreshing. With the cheapest gas prices around, South Carolina’s $3.41 per gas gallon is 3.15 times its $1.08 electric equal. And Hawaii’s most expensive electricity ($3.69 per gallon) still manages to squeeze under gasoline’s $3.74. Using mileage data for the five top-selling electric vehicles in 2012 – Tesla Motors Inc (NASDAQ:TSLA)‘s Model S, General Motors Company (NYSE:GM)‘ Chevy Volt, Nissan‘s Leaf, Ford Motor Company (NYSE:F)‘s Focus, and BMW‘s ActiveE – the number cruncher compares these vehicles’ costs to a gasoline car that averages 28.2 miles per gallon. The result? On average, it costs around three times less per gallon ($1.14) to put the pedal to the metal in an electric vehicle versus a gasoline-powered vehicle.

A bit of historical perspective points to another win for electric expenditures. While pump prices can spike overnight with erratic oil, regulated utilities keep electricity prices slow and steady through thick and thin.

Source: Energy.gov

Electricity also offers a more diverse generation portfolio, creating opportunities for environmental efficiency and energy independence. And while this isn’t currently the case with coal-centric utilities or imported energy, it’s a bigger basket to choose from than anything traditional fuels have on tap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!