EV Running Costs in 2024: How They Compare to Petrol in the North West

Charging an electric car at home in Lancashire currently costs around 3 to 4 pence per mile, compared to 14 to 18 pence per mile for a comparable petrol car. Over 10,000 miles a year – the average for a Lancashire commuter driving between Preston and Manchester or around the Blackpool and Fylde area – that is a difference of roughly £1,000 to £1,400 per year in fuel savings alone. But fuel is only part of the story. Here is a comprehensive comparison of what it actually costs to run an EV versus a petrol car in the North West.

Fuel and Charging Costs: The Headline Numbers

Electricity costs on a standard home tariff are currently around 24.5p per kWh under the energy price cap. A typical electric car (such as a Nissan Leaf, VW ID.3 or MG4) uses 3 to 4 kWh per mile depending on driving style, weather and terrain. That works out at roughly 7p to 10p per mile on a standard tariff. However, most savvy EV drivers in Lancashire charge overnight using a dedicated EV tariff, bringing the cost down to 7p to 9p per kWh and just 2p to 4p per mile.

Popular EV tariffs available to Lancashire residents include Octopus Go (7.5p per kWh between 11.30pm and 5.30am), OVO Charge Anytime, and Intelligent Octopus Go (which can be as low as 7p per kWh for six hours overnight). If you can charge your car during these off-peak windows – and most Lancashire commuters can, since the car sits on the driveway from evening until morning – the savings are substantial.

Petrol costs fluctuate, but across Lancashire filling stations in late 2024, you are paying around £1.35 to £1.45 per litre. A typical petrol car managing 40 to 50 miles per gallon costs 14p to 18p per mile. A less efficient SUV or older car might cost 20p or more per mile.

Public Charging Costs in Lancashire and Greater Manchester

If you cannot charge at home – perhaps you live in a flat or terraced house without off-street parking, which is common across central Blackburn, Burnley and parts of Preston – public charging is your main option. Costs vary widely depending on the provider and speed.

Slow and fast chargers (7kW to 22kW) at supermarkets and car parks typically cost 30p to 45p per kWh. Some supermarkets offer free charging while you shop – Tesco stores across Lancashire have Podpoint chargers where you can pick up a free top-up during your weekly shop. Lidl and Aldi have also been expanding free charging at their Lancashire locations.

Rapid chargers (50kW+) at motorway services along the M6, M61 and M65 cost 60p to 80p per kWh. At these rates, charging is roughly comparable to petrol costs per mile. Use rapid chargers for occasional long journeys rather than regular daily charging. The Gridserve network at M6 services near Lancaster and BP Pulse chargers at various North West locations are among the more reliable options.

Lancashire County Council has been expanding its on-street charging network, with chargers appearing in residential areas across Preston (PR1, PR2), Lancaster (LA1) and Burnley (BB11). These typically charge 35p to 45p per kWh and are available 24/7. Greater Manchester has an even more extensive public network through the Be.EV scheme, with hundreds of chargers across Bolton, Wigan, Rochdale and Bury.

Maintenance and Servicing Costs

This is where EVs pull further ahead. Electric cars have far fewer moving parts than petrol vehicles – no engine oil, no spark plugs, no clutch, no exhaust system, no timing belt. Annual servicing for a typical EV costs £100 to £200, compared to £200 to £400 for a petrol equivalent.

Brake wear is significantly reduced on EVs because regenerative braking handles most of the slowing down, with the friction brakes only used for emergency stops and final standstills. EV owners across Lancashire frequently report their brake pads lasting 80,000 to 100,000 miles or more, compared to 30,000 to 50,000 miles on a petrol car. That is a saving of £200 to £400 over the life of the car.

Tyres are one area where EVs can be slightly more expensive. The extra weight of the battery means EV tyres tend to wear faster, and many EVs require specific low-rolling-resistance tyres that cost £10 to £30 more per tyre than standard equivalents. Budget £100 to £200 extra for tyres over a typical three-year ownership period.

Insurance Costs for EVs in Lancashire

Insurance has been a sticking point for EV owners across the UK, and Lancashire is no exception. On average, insuring an EV costs 15% to 25% more than an equivalent petrol car, though the gap is narrowing as more insurers enter the market and gain experience with EV claims.

The higher premiums reflect the cost of battery repairs – if a battery is damaged in an accident, replacement can cost £5,000 to £15,000. Some insurers also price in the fact that there are fewer qualified EV repair technicians, which can increase repair times and courtesy car costs.

For a Lancashire postcode, insurance for a popular EV like the MG4 or Nissan Leaf typically ranges from £400 to £800 per year for a middle-aged driver with a clean record. Compare this to £300 to £600 for a similar-sized petrol car. The difference narrows significantly if you shop around using comparison sites and consider specialist EV insurers.

Road Tax and Company Car Benefits

EVs registered before April 2025 pay zero road tax (Vehicle Excise Duty). From April 2025, new EVs will start paying the standard rate of £190 per year, the same as petrol and diesel cars. This change eliminates one of the financial advantages, though it still saves money compared to first-year rates for higher-emission vehicles.

For company car drivers in Lancashire – and there are many, given the concentration of business parks along the M6 corridor from Leyland to Lancaster and across Greater Manchester – the benefit-in-kind (BIK) tax rate on EVs remains highly favourable at 2% for 2024/25, rising to 3% in 2025/26 and 4% in 2026/27. For a 40% taxpayer driving a £35,000 EV, the monthly BIK tax is just £23 at the 2% rate. The same driver in a £35,000 petrol car with 130g/km CO2 would pay around £350 per month. That is a saving of nearly £4,000 per year in tax alone.

The Full Annual Cost Comparison

Putting all the numbers together for a typical Lancashire driver covering 10,000 miles per year, here is how the annual costs compare for a mid-range EV versus a petrol equivalent:

• Fuel/charging (home, off-peak tariff): EV £250 to £350 vs Petrol £1,400 to £1,800
• Annual servicing: EV £100 to £200 vs Petrol £200 to £400
• Insurance: EV £500 to £800 vs Petrol £350 to £600
• Road tax: EV £0 (pre-2025) vs Petrol £190 to £390
• Tyres (amortised): EV £200 vs Petrol £150

Total annual running cost: EV approximately £1,050 to £1,550 versus petrol approximately £2,290 to £3,190. That is a saving of £1,000 to £1,600 per year for the EV driver. Over a typical five-year ownership period, the EV may save an estimated £5,000 to £8,000 in running costs, which goes a long way towards offsetting the higher purchase price.

Real-World Driving Costs in Lancashire

Lancashire’s mix of motorways, A-roads and rural lanes means driving conditions vary considerably. Motorway driving (M6, M61, M65) at 70mph uses more energy than urban driving because there is no regenerative braking to recapture energy. Conversely, stop-start driving through Blackburn, Preston or Manchester town centres is where EVs are most efficient, often using 30% to 40% less energy per mile than motorway cruising.

Hilly terrain also affects efficiency. Driving over the Trough of Bowland, up to Pendle Hill, or through the Rossendale Valley uses more energy on the climbs, though regenerative braking recovers some of it on the descents. Lancashire EV drivers should expect 10% to 15% higher energy consumption in winter due to cold weather, heating demands and more frequent use of lights and wipers.

How much does it cost to charge an EV at home in Lancashire?

On a standard electricity tariff at 24.5p per kWh, a full charge for a 60kWh battery costs about £14.70 and gives 180 to 220 miles of range. On an off-peak EV tariff at 7p to 9p per kWh, the same charge costs £4.20 to £5.40. Most Lancashire EV drivers spend £25 to £40 per month on home charging.

Are EVs cheaper to run than petrol cars overall?

Yes. A typical EV costs £1,050 to £1,550 per year to run in Lancashire, compared to £2,290 to £3,190 for a similar petrol car. The biggest saving is in fuel costs, where home charging at off-peak rates costs 2p to 4p per mile compared to 14p to 18p for petrol. Higher insurance costs partially offset the savings but do not eliminate them.

Is it worth getting a home charger installed?

A dedicated home wallbox charger costs £800 to £1,200 installed, but it enables you to use cheap overnight electricity tariffs and charges your car faster than a three-pin plug. If you drive 10,000 miles per year, the savings from off-peak charging versus standard-rate charging pay for the charger within 12 to 18 months. It also adds convenience and can increase your property value.