Pump Versus Plug Plug in Prices Hit the Market
We are hitting a point in history where we can either pump or plug. But which one should we go with? With gas prices rising, Americans are staring to hate the effects of gas hitting our wallets. However now electric vehicles are also feeling the effects with “plug prices”. The Department of Energy has now spoken, and now it’s hard to say which is better.
At the national level, gas-powered cars now cost around three times as much per mile as electric vehicles. There are three main considerations that we should take when considering calculations on which car is cheaper. The first is high levels of gas prices can put electric cars in the front run. Maintenance costs do matter. And a simple battery replacement in an electric car can lead to a major replacement which still remains very unknown in electric cars. The parts for electric cars are still very new and unknown so it is hard to replace the parts if you damage your car. And lastly fuel costs add up, truth is a gas car can travel longer and farther than an electric car, so eventually your eGallons wont be worth it, now that there is a price tag.
Because if electric cars entry into the market it is difficult to calculate long-term maintenance costs for electric vehicles, and how gas prices compare to eGallons. If gas prices drop drastically, electric vehicles will loose their upper hand. Or if electric prices decrease then we will see more eGallon based cars. The more data that we have, the easier it is for analysts and the average consumer to make an informed decision about their next car purchase so until then we will need to wait.
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