“Electric vs. Fossil Fuel Car Costs: A Comprehensive Comparison”

2023-04-30 09:58:00

According to data from the scoreboard of the Creg, the federal energy regulator, electricity contracts reached their maximum price in October 2022. At that time, an individual paid around 69 cents per KWh for a new electricity contract. At that price, it cost about twelve euros to travel 100 kilometers with an electric car (taking into account a consumption of 17 KWh per 100 km).

Nevertheless, electricity prices have fallen sharply since then. Still according to the Creg dashboard, the price of electricity fell to around 48 cents per KWh in March 2023. At this rate, it costs around eight euros to travel 100 km with an electric vehicle (always with a consumption of 17 kWh per 100 km).

Thermal remains more expensive

What about gasoline and diesel? Note that the cost of fossil fuels also increased at the height of the energy crisis. Nevertheless, the reverse ratchet system implies that the fluctuations are less strong than with electricity. Indeed, when the price of oil rises, excise duties fall. And when the price of a barrel drops, excise duties go up.

The electric car for less than 25,000 euros is indeed announced

Thus, according to data provided by the FPS Economy, the price to travel 100 km with a petrol car has fluctuated between 10.8 and 12.1 euros over a period of one year (between the second quarter of 2022 and the first quarter of 2023 ). For diesel, the range was even tighter: between 9.8 and 10.9 euros per 100 km.

For the electric car, the variations were therefore greater, according to data from the FPS Economy. The minimum price to travel 100 km was 5.1 euros, compared to 9.5 euros for the maximum price.

The CNG flamed out

It should be noted that cars using CNG, compressed natural gas, suffered the greatest price variations. According to data from the FPS Economy, we went up to 17.6 euros to travel 100 km! But, in the first quarter of 2023, we fell back to 11.2 euros.

Softer taxation

Note also that automobile taxation is much softer vis-à-vis the electric. In Wallonia, the registration tax amounts to 61.50 euros and the annual tax to 92.93 euros. This taxation could obviously change when the majority of motorists are equipped with electric vehicles.

As for maintenance costs, they are announced as cheaper for an electric car. Not to mention that its lifespan should be longer than that of its thermal counterparts.

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