What is More Cost Effective: Petrol, Diesel, or Electric Car?

With the growing variety of vehicle types available, choosing between a petrol, diesel, or electric car can be a challenging decision, especially when considering cost-effectiveness. In this article, we'll examine which type of vehicle is more cost-effective for a family scenario in the UK, with a weekly driving distance of 200 miles.

Assumptions

• Driving distance: 200 miles per week, approximately 10,400 miles per year.
• Family: Married with two children, requiring a vehicle that comfortably fits four people.
• Fuel/electricity costs: We'll use the average UK prices as of 2023.

Cost Analysis

1. Petrol Car

Petrol cars remain popular due to their availability and lower upfront costs.

• Average fuel cost: £1.50 per litre.
• Fuel consumption: 40 miles per gallon (mpg).
• Annual fuel cost: (10,400 miles / 40 mpg) * £1.50 per litre * 4.54 litres = approximately £1,768.

2. Diesel Car

Diesel cars are known for better fuel efficiency, making them a plausible option for longer distances and frequent highway driving.

• Average fuel cost: £1.60 per litre.
• Fuel consumption: 50 mpg.
• Annual fuel cost: (10,400 miles / 50 mpg) * £1.60 per litre * 4.54 litres = approximately £1,507.

3. Electric Car

Electric vehicles (EVs) have surged in popularity due to their eco-friendliness and lower running costs.

• Average electricity cost: £0.30 per kWh.
• Efficiency: 4 miles per kWh.
• Annual electricity cost: (10,400 miles / 4 miles per kWh) * £0.30 per kWh = approximately £780.

Other Considerations

• Upfront Costs: Electric cars have higher initial purchase prices compared to petrol and diesel cars. However, government incentives for electric vehicles can reduce this disparity.
• Maintenance Costs: Electric vehicles generally require less maintenance than their petrol and diesel counterparts due to fewer moving parts.
• Depreciation: Diesel cars might depreciate faster due to regulations and changes in consumer preference.
• Emissions and Environmental Impact: Electric cars offer zero exhaust pipe emissions, which is an important factor for environmentally-conscious families.

Conclusion

In the scenario presented, the electric car stands out as the most cost-effective option based on fuel savings alone. When coupled with lower maintenance costs and government incentives, it can present significant long-term savings, making it a worthy choice for families driving 200 miles weekly in the UK. However, initial cost and personal preference should also be considered in the decision-making process.