"Should my next car be electric?" is a question almost every Australian driver is now asking, and the honest answer is: it depends on you. A tradie towing a trailer 40,000 km a year and a retiree doing school runs around the suburbs will reach very different conclusions — and both can be right. This is the kind of comparison FueVolt's cost tools were built to help with.
Each powertrain has distinct running costs, and the cheapest option depends on how you drive, where you live and how long you keep the vehicle. If you want to compare specific models, the government's Green Vehicle Guide lists fuel use, running costs and emissions side by side.
Fuel and Energy Costs
The most visible running cost is what you spend at the pump or charger, and it moves around a lot. In September 2026, FueVolt was showing Brisbane-area petrol (U91) averaging about 234 cents a litre and diesel about 285 cents, with the cheapest stations roughly 20 cents below those averages. For electricity, FueVolt's running cost calculator assumes 30 cents per kWh for home charging and 45 cents per kWh for public charging, and you can change both. Home charging on an off-peak tariff can be well below 30 cents.
For a typical mid-size sedan driving 15,000 kilometres per year, using rounded prices of 230 cents for petrol and 280 cents for diesel:
A petrol car consuming 8 litres per 100 km uses 1,200 litres annually, costing around $2,760.
A diesel car consuming 6.5 litres per 100 km uses 975 litres, costing approximately $2,730.
An electric car consuming 16 kWh per 100 km uses 2,400 kWh, costing about $720 charging at home (30 cents per kWh) or $1,080 using public chargers (45 cents per kWh).
On those numbers the EV saves roughly $1,700 to $2,000 a year in energy costs compared to petrol. Diesel's better efficiency is almost cancelled out by its higher price per litre, so at these prices it costs about the same to fuel as petrol. That gap can change quickly, which is why it is worth checking live prices before you decide.
A Quick Formula for Your Own Car
To compare any car, multiply its consumption by the price of its fuel. That gives you the cost per 100 km:
- Petrol: 8 L/100 km × $2.30 = $18.40 per 100 km
- Diesel: 6.5 L/100 km × $2.80 = $18.20 per 100 km
- EV at home: 16 kWh/100 km × $0.30 = $4.80 per 100 km
- EV on public chargers: 16 kWh/100 km × $0.45 = $7.20 per 100 km
Swap in your own car's consumption and the prices you actually pay. If you have rooftop solar and charge while the sun is up, your electricity can cost even less, since the energy would otherwise earn only a small feed-in tariff.
Servicing Costs
Electric vehicles have far fewer moving parts than internal combustion engines. There is no engine oil, oil filter, spark plugs, timing belt, transmission fluid or exhaust system to maintain. EV servicing typically involves brake inspections, tyre rotations, cabin filter changes and software updates.
As a rough guide, annual servicing for a petrol car is often $600 to $900, diesel servicing $700 to $1,100 because of more complex emissions systems such as diesel particulate filters, and EV servicing $200 to $400. These are ballpark ranges, not quotes, and they vary by make, model and workshop, so check the manufacturer's capped-price servicing menu for the car you are considering.
Registration and Insurance
In most Australian states, EV registration costs are comparable to petrol vehicles. Some states have explored road user charges for EVs to offset declining fuel excise revenue. Victoria's charge was struck down by the High Court in 2023, and other governments have since been working on their own approaches, so check the current rules in your state. The Electric Vehicle Council tracks the state-by-state incentives and charges that apply to EV owners.
Insurance premiums for EVs can be higher due to the higher purchase price and specialised repair requirements. Shopping around is essential.
Total Cost of Ownership
When you combine fuel, servicing, registration, insurance and depreciation over five years, EVs are increasingly competitive despite their higher purchase price. Government incentives in some states — such as stamp duty exemptions and rebates — narrow the gap further.
For drivers covering high annual kilometres (20,000 km or more), especially those who can charge at home on cheap off-peak power, an EV is almost certainly the cheapest option to run. For lower-mileage drivers or those without home charging access, a fuel-efficient petrol car may still be more economical when factoring in the higher EV purchase price.
Diesel makes most sense for heavy towing, long highway trips and vehicles that cover very high kilometres, where the superior fuel efficiency offsets the higher per-litre cost and servicing expenses.
Costs People Forget
Tyres. EVs are heavier than similar petrol cars and deliver torque instantly, which can wear tyres faster. Budget for replacing them a little sooner.
A home charger. A wall box plus installation is a one-off cost that depends on your switchboard and wiring, so get a couple of quotes. Our home charging guide covers the options.
Battery warranty. EV batteries commonly carry a warranty of around eight years, but the terms and kilometre limits vary by manufacturer, so read them before you buy.
AdBlue. Many modern diesels need AdBlue, a separate exhaust fluid, topped up between services.
Depreciation. Resale values for EVs are still hard to predict, and this can outweigh a year or two of fuel savings, so include it in your five-year estimate.
Which Option Suits Which Driver
High kilometres and home charging: An EV is very likely the cheapest to run. The more you drive, the faster the lower energy cost pays back the higher purchase price.
Low kilometres and no home charging: A fuel-efficient petrol car, or a hybrid, is often the better value. You save less on energy, and relying on public chargers narrows the gap.
Heavy towing or long remote trips: Diesel remains the practical choice for many people. If you are considering an EV for towing, check the real-world range with a load and how many chargers sit along your usual routes. The trip planner can help you see what is on the way.
The Bottom Line
There is no single cheapest option for everyone. Use the FueVolt cost comparison tool to estimate your personal weekly fuel versus electric costs based on your driving habits.