Home › States › New Mexico
EV vs gas cost in New Mexico: $863 a year saved at 12,000 miles
With New Mexico electricity at 15.08¢/kWh and regular gasoline at $3.78/gal, a typical EV (0.3 kWh/mile, charged 80% at home) costs about 6.3¢ per mile to run versus 13.5¢ per mile for a 28 mpg gas car. That beats gas by $863 a year at 12,000 miles. New Mexico ranks #36 of 51 (50 states + DC) for annual savings and #18 for lowest residential electricity price.
Your numbers
Defaults are the latest EIA averages for the state you pick; overwrite any box with your own bill or pump price. Everything runs in your browser; nothing is sent anywhere.
What the New Mexico numbers say
- Electricity: New Mexico residential average is 15.08¢/kWh year-to-date through July 2026, 17% below the U.S. average of 18.19¢. It is up 2.8% from the same period in 2025. Latest single month (July 2026): 16.09¢.
- Gasoline: $3.78/gal (EIA regional series: Gulf Coast (PADD3)), up $1.23 from a year ago. The U.S. average is $4.28.
- Cost-equivalent MPG: a gas car would need about 60 mpg to cost the same per mile as this EV in New Mexico.
- If prices move: at 20% cheaper gas ($3.03) the yearly EV saving would be $539; at 20% higher electricity (18.10¢) it would be $777.
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 New Mexico
- Space heater (1,500 W): $0.23 per hour
- Electric blanket (200 W): $0.24 per 8-hour night
- Window air conditioner (1,000 W): $0.15 per hour
- Electric clothes dryer: $0.45 per load
- Dishwasher: $0.15 per load
- Refrigerator: $68 per year
- Gaming PC (300 W under load): $0.05 per hour
- EV home charging (per 100 miles): $4.52 per 100 miles
Heating this winter? In New Mexico a heat pump costs about $17.68 per million BTU of heat vs $10.93 for a gas furnace and $34.92 for propane. Heat pump vs furnace in New Mexico.