Department of Transportation Secretary Pete Buttigieg said Monday that people should try to save money by purchasing electric vehicles (EVs) as gas prices surge across the country.
“Clean transportation can bring significant cost savings for the American people as well,” Buttigieg said at the “Accelerating Clean Transportation” event. “Last month, we announced a $5 billion investment to build a nationwide electric vehicle charging network for the people from rural to suburban to urban communities can all benefit from the gas savings of driving an EV.”
The national average gas price exceeded $4 per gallon Saturday, spiking from an average of $2.76 a year ago. (RELATED: US Gas Prices Skyrocket At Record Rate Due To Russian Sanctions)
The average price of an EV was $56,437 in November 2021, according to Kelley Blue Book. The average price jumped 6.2% from the same month in the previous year.
While upfront costs for EVs are more expensive, a car owner will wind up spending less on an electric car than a fuel-based vehicle, Money.com reported. Owners who drive 15,000 miles in their electric car spend roughly $546 on power, while a person would spend $1,255 in a gas-powered car driving the same distance.
The U.S. Department of Energy found owners will spend $14,480 less on their vehicle’s electricity than paying for gas, the outlet also reported. Over the car’s lifetime, total greenhouse gas emissions with manufacturing, driving and charging an EV are significantly lower than a gas-fueled vehicle.
Studies conducted by the Universities of Cambridge, Exeter and Nijmegen in the Netherlands found that for 95% of the world driving EVs is better for the environment, CNBC reported.
Electric grids are still powered by fossil-fuels, particularly coal and oil, in order to charge, according to the outlet. A study from the Massachusetts Institute of Technology found that the battery and fuel production when making an EV creates higher emissions than manufacturing a gas-powered vehicle.
President Joe Biden signed an executive order in December to take steps in switching to an 100% electric vehicle fleet by 2035 and for the federal government to be completely emissions-free by 2050.