Soaring Gas Prices: Best State To Switch To An EV

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Soaring Gas Prices: Best State To Switch To An EV
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Gas prices are climbing and it’s possible they might continue to rise as the end of the year approaches. There are only 2 states left with average gas prices under $3 per gallon! And in California, the state average for a gallon of gasoline is $4.52!

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Best State To Switch To An EV

For those looking for a way to save on driving costs during this time, or for those who would like to minimize their carbon footprint anyway, there is a solution: an electric vehicle. But to switch to an electric vehicle there are a lot of factors to consider so Bumper, a leading vehicle history reports company, ranked all 50 states to find out where it makes sense to switch to an EV.

In their Best States for Electric Cars study, Bumper ranked financial incentives by metrics like the number of rebates and tax incentives found in each state, gas prices, EV prices, average commute times, and more. They then ranked each state's infrastructure by metrics like the number of new charging stations, the number of power ports on each charging station, and the amount of other EVs.

Washington is the best state for owning an electric vehicle; Alaska, the worst. The top states include Washington, Utah, Colorado, Massachusetts and California. On the other end of the spectrum, Alaska, Alabama, South Carolina, Mississippi and South Dakota are the worst states.

Some states like Kentucky have recharge costs of nearly half that of California. 1,000 miles of driving in an EV costs $28.70 in Kentucky, compared with $56.30 in California! This makes Kentucky an ideal state to buy an EV in.

California and New York are leading the growth for the total number of new EV charge stations. From January 2017 through August 5, 2021, the leader in new EV stations is by far California (11,833), followed by New York (2,273), Florida (1,901), Texas (1,771) and Massachusetts (1,662).

The states with the fewest EV stations opening since 2017 are South Dakota (30), Alaska (33), Wyoming (37), Montana (42) and North Dakota (49).

Figuring Out Your Charging Plan

When thinking about switching to an EV you should figure out your charging plan. For example, some states did poorly in Bumper's study because of a lack of public charging stations. Kentucky has built only 7.5 charging stations per 100k people between 2017 and 2021, only Mississippi and Lousianna had built fewer. Most people charge at home but you may need to refuel at public charging stations near work so find out where they are.

And if you are thinking of buying an EV to avoid rising gas prices or for any other reason, you should think outside of buying a Tesla. For example, Ford's EVs, especially the upcoming F-150 Lightning, could be more practical for you. Ford is investing $30 billion through 2025 in R&D, new plants, and worker training, as it believes 40% of US car volume will be electric by 2030.

But apart from factors like infrastructure highlighted in Bumper’s report, the biggest reason why everyone is not buying an EV is the price. It is a valid concern when an electric car is still $7-14k more than an internal combustion equivalent. But this is a temporary situation and one that looks like it will be gone in a few years time.

Richard Gargan, Consumer Advocate for Bumper said: "If you can't afford an EV or can't live with the lack of charging stations in your state, consider buying a plug-in hybrid. You can plug it into your normal wall outlet, and wait for infrastructure to improve and hopefully your next vehicle will be fully electric."

Demand for oil is soaring globally with an energy crunch overseas where natural gas and coal are booming. Oil has recently hit a three-year high above $86 a barrel, driven by tight supply and a global energy crunch. Crude and fuel inventories have tightened, with crude inventories falling to a three-year low.

One thing is for certain, as US President Joseph Biden has called for half of all new vehicles to be electric or hybrid-electric cars by 2030, it won't be just those of us sick of gas prices who will be switching to an EV, most of us will be.

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