How rising gas prices are changing the EV ownership math in California

Key Points:

• As of early 2026, California drivers save approximately $166 per month on fueling costs by driving electric vehicles (EVs) compared to gas-powered cars, an increase from $99 monthly savings reported in May 2025.
• Gas prices in California have risen to an average of $5.83 per gallon, with some Bay Area locations exceeding $6, driving monthly fueling costs for gas cars to around $287.
• Meanwhile, the cost of charging EVs has slightly decreased due to lower electricity prices and improved EV efficiency, averaging about $121 per month for charging.
• Although EVs generally have higher upfront costs, including purchase price, insurance, and registration fees, they require less maintenance and benefit from some remaining California incentives; however, home charging installation can be costly.
• Regional factors such as variable electricity rates in the Bay Area can affect EV charging costs significantly, but even with these fluctuations, EVs tend to remain cheaper to fuel than gas vehicles across various car categories.