EV vs gas cost in Nm
Current fuel prices: $3.72/gal gasoline (PADD 3 (Gulf Coast), week of 2026-08-31) and 15.06¢/kWh residential electricity (2026-06). Typical EV: 37 kWh/100mi.
Monthly fuel cost — 1,000 miles
Typical EV (home charging)
$56
$0.056/mi
25 MPG gas car
$149
$0.149/mi
30 MPG gas car
$124
$0.124/mi
35 MPG gas car
$106
$0.106/mi
Yearly savings with an EV in Nm
| Compared to | Fuel for 12,000 mi/yr | EV fuel for 12,000 mi/yr | Yearly saving |
|---|---|---|---|
| 25 MPG gas car | $1,786 | $669 | $1,117 |
| 30 MPG gas car | $1,488 | $669 | $820 |
| 35 MPG gas car | $1,276 | $669 | $607 |
Nm fuel FAQ
Is an EV actually cheaper to fuel in Nm?
Yes. At $3.72/gal, a 30 MPG car costs $0.124 per mile in gas, while a typical EV costs $0.056 per mile charged at home (15.06¢/kWh). That's roughly $0.068 saved per mile — about $820 per year at 12,000 miles.
How much gas does the average driver use in Nm?
At 1,000 miles/month in a 30 MPG car, 33 gallons/month (400 gallons/year). The same miles in a typical EV use 370 kWh/month of electricity.
Is Nm gas expensive compared to other states?
Nm ranks #6 of 51 (1 = cheapest gas). The national spread runs from Texas at $3.69 to California at $5.63 per gallon. The higher your gas price, the faster an EV pays for its price premium.