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EV vs gas cost in Minnesota: $999 a year saved at 12,000 miles
With Minnesota electricity at 16.25¢/kWh and regular gasoline at $4.18/gal, a typical EV (0.3 kWh/mile, charged 80% at home) costs about 6.6¢ per mile to run versus 14.9¢ per mile for a 28 mpg gas car. That beats gas by $999 a year at 12,000 miles. Minnesota ranks #22 of 51 (50 states + DC) for annual savings and #28 for lowest residential electricity price.
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What the Minnesota numbers say
- Electricity: Minnesota residential average is 16.25¢/kWh year-to-date through July 2026, 11% below the U.S. average of 18.19¢. It is up 4.2% from the same period in 2025. Latest single month (July 2026): 17.45¢.
- Gasoline: $4.18/gal (EIA state series), up $1.32 from a year ago. The U.S. average is $4.28.
- Cost-equivalent MPG: a gas car would need about 63 mpg to cost the same per mile as this EV in Minnesota.
- If prices move: at 20% cheaper gas ($3.34) the yearly EV saving would be $641; at 20% higher electricity (19.50¢) it would be $906.
What this leaves out: purchase price, tax credits, insurance, maintenance, depreciation, home charger installation, time-of-use rates and cold-weather range loss. Your utility's own rate may differ from the state average. See the methodology.
Cost to run common things in Minnesota
- Space heater (1,500 W): $0.24 per hour
- Electric blanket (200 W): $0.26 per 8-hour night
- Window air conditioner (1,000 W): $0.16 per hour
- Electric clothes dryer: $0.49 per load
- Dishwasher: $0.16 per load
- Refrigerator: $73 per year
- Gaming PC (300 W under load): $0.05 per hour
- EV home charging (per 100 miles): $4.88 per 100 miles
Heating this winter? In Minnesota a heat pump costs about $19.05 per million BTU of heat vs $10.82 for a gas furnace and $23.18 for propane. Heat pump vs furnace in Minnesota.