Cut fuel costs by switching to an electric car

As petrol and diesel prices continue to soar in the UK, it’s no wonder that motorists are reviewing their options when it comes to driving. 

In July 2022, car owners can expect to pay in the region of £2 per litre for fuel and there’s no signs of the situation changing anytime soon. With this in mind, many drivers are choosing to go electric instead - and why not! 

Although electricity prices are rising, figures show that switching to an electric car can still save you money. At Octane Finance, we’ve compared the cost of filling your car with fuel versus electric charging, as well as sharing our top tips when it comes to cutting costs. Read on to find out more…  

How much does it cost to fill up a tank of fuel?

It’s estimated that drivers of petrol and diesel cars are paying around 12p per mile during the daily drive. Of course this can vary depending on the price of fuel at any given time. Based on the prices in July 2022 which have hit an all-time high, the average 47-litre family car now costs between £85-£100 to fill up a tank with fuel. 

How much does it cost to charge an electric car?

According to the UK Government website, Go Ultra Low, electric car drivers can expect to pay less than 2p per mile during their journey - that’s pretty good value when compared to how much it costs to drive a petrol or diesel car.

Of course, energy prices are rising too, but nowhere near the rate of fuel. As it stands in July 2022, the average electricity rate costs the UK consumer around 28p per kWh of energy used. 

Based on this average price and the battery sizes of electric cars, to fully charge an electric car would cost you anywhere between; £10 for the smallest battery and shortest range EV, up to around £40 for the largest battery size and longest range model. By comparison to petrol and diesel prices, you will still save at least £40 or so per full charge compared to topping up a tank of fuel.   

Interestingly, the Energy Saving Trust states that EV drivers typically carry out 70% of their car battery charging at home, with the further 30% taking place at public charging stations. Based on this, it’s not out of the question that you can make further savings by identifying EV charge points which are free to use. Below, we let you know where you can find them…  

Top tips to cut car charging costs

Many electric car owners will choose to charge their car at home overnight, much like they would their mobile phone. Some EV owners will even be lucky enough to access charging units for free, provided by their employer or place of work. 

Did you know that there are other avenues you can explore when it comes to charging your car for free? As of July 2022, there are around 35,000 public car chargers in the UK. Over 15% of those available charging units are accessible for free, so electric car owners can choose from 5,430 chargers across the country at no cost. 

So how do you know where to find electric car charging stations and top up for free? Below we’ve shared our top tips when it comes to finding free car chargers:

Access Zap Map

Zap-Map is a website and mobile phone app that allows you to find more than 30,000 public charge points across the UK. To locate the free charge points, simply select the ‘free to use’ filter during your search.

You’ll discover that the amount of free charge points differs between regions. If you’re a resident in Scotland or the South East then you’re in luck, as these areas have the highest number of free charge points readily available for public use. 

Head to your local supermarket

When searching for free public charge points in your area, make the first stop at your local supermarket. They are proven to have the most free electric car charging devices available.

Whether you’re heading to Tesco, Sainsbury’s, Asda or Aldi, expect to find free electric car charging stations and parking bays designated especially for EV drivers - now that’s our kind of food shop!

Drive into town

Your local town or city is bound to have a number of public car parks, so it’s worth checking which of these offers free charging bays for electric cars. Many councils have introduced charging stations for free public use as a way of rewarding residents and visitors for ‘going green’ in their vehicle choices. 

Next time you’re planning a trip into town, check online to see if the local area offers such perks - if so, you may become a regular visitor!   

Visit local attractions

From zoos to theme parks, museums to leisure centres, you’ll be surprised at the amount of attractions across the country that offer free charging bays for electric car drivers. Use Zap-Map to filter your free charging station search by location type to identify where these are.

It really could pay to go electric!