$2.98 Gas Makes EVs A Hard Sell In Texas
Consumer Reports says EV owners save 60% on fuel costs yearly compared to people driving gas-powered cars. There has been some debate about this, but there is almost certainly some saving. Many potential EV buyers don’t view this as enough to overcome range and charging stations, and the fuel efficiency factor varies by state.
The average price of a gallon of regular gas in California is $4.65, and in Texas, it is $2.98. Today, gas prices nationwide are low and getting lower.
Plug-in car registrations in California are the highest in the country at 27.55 per thousand. Texas is among the lowest at 5.13. The cheap gas states, in general, have very low EV ownership. On a per 1,000 basis, Louisiana is 1.55, Mississippi is 1.15. Arkansas is 2.12.
EVs And Politics
The politics and demographics of EV owners may also have a place. Liberals are more likely to buy EVs than conservatives, according to Gallup. “Democrats (22%) are also far more likely than both Republicans (1%) and independents (12%) to say they are seriously considering purchasing an EV.” More generally, when gas prices go up, inflation increases.
People who vote with their pocketbooks may do the same with EV purchases. Gas below $3 a gallon is hard to beat.
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