EV vs petrol running costs in Singapore: a practical comparison

An EV can reduce your energy bill, but where you charge and what you replace decide whether it saves you money overall.

At the inputs below, driving 15,600 km a year costs about $1,941 at SP Mobility public AC chargers, or $3,009 in petrol. Those are energy costs; the rest of the ownership budget comes next.

The tables below are a worked example using the SP public AC median checked on 14 September 2026. For your own mileage and the latest weekly price check, jump to the savings calculator.

Start with comparable inputs

Input	Value used	What it represents
Annual distance	15,600 km	Example driver doing 1,300 km/month
Petrol consumption	14 km/litre	Assumption; use your own fuel records
Petrol price	$2.70/litre after discounts	Assumption, not a live pump quote
EV consumption	16 kWh/100 km at the battery	Assumption, before charging losses
Charging efficiency	90%	Assumption; 10% of metered energy is lost
SP public AC charging	70¢/kWh	Published SP Mobility AC median, checked 14 September 2026

The charging rate is the SP Mobility public AC median published by ChargeLah, using LTA DataMall's charging data. It is a network benchmark: individual chargers, discounts and extra fees can differ. Check your chosen station in the SP app.

These assumptions make the calculation repeatable without treating a volatile petrol price as permanent.

The annual energy bill

The petrol car uses 15,600 ÷ 14 = 1,114 litres a year. The EV draws 15,600 × 16 ÷ 100 ÷ 0.90 = 2,773 kWh from chargers.

Option	Annual energy cost	Cost per km	Saving versus petrol
Petrol at $2.70/litre	$3,009	19.3¢	—
EV at SP public AC median, 70¢/kWh	$1,941	12.4¢	$1,067

Figures are rounded to the nearest dollar. They exclude parking, idle fees and subscriptions.

Mileage changes the saving almost proportionately. At 7,800 km a year, the energy saving is half as large. Vehicle efficiency matters too: a petrol hybrid achieving 20 km/litre would cost $2,106 a year at the same assumed fuel price, narrowing the EV's energy saving to about $165.

Subtract the other costs before calling it a saving

Road tax

Compare the exact variants. Electric-car road tax depends on power and includes an Additional Flat Component of $700 a year. Engine size determines the basic road tax for a petrol car. Use LTA’s vehicle tax structure or the vehicle’s quoted road tax.

A model name alone is insufficient: different motor outputs can produce different bills.

Insurance

Get equivalent quotes using the same driver, NCD, excess and workshop coverage. There is no single percentage premium that applies to every EV. Check battery damage, flood cover and repair arrangements as well as price.

Servicing, tyres and repairs

An EV avoids engine oil changes and some engine-related repairs, but still needs tyres, brakes, filters and other maintenance specified by its manufacturer. For example, Tesla’s maintenance guidance includes tyre, filter and brake checks.

Use the actual service package and tyre size in your comparison. Complimentary servicing can exclude wear items and repairs. Battery warranties also have both time and mileage limits: an eight-year warranty does not cover a full ten-year COE period. Check the remaining coverage on a used car.

Depreciation and financing

A lower fuel bill can be outweighed by a higher purchase price or lower resale value. Compare purchase price minus expected exit value, plus financing costs, over the same number of years.

If you already own a serviceable car, include the cost of selling it and buying its replacement. Saving $1,200 a year on energy does not automatically justify spending thousands to switch.

A simple ownership budget

Suppose your EV would save $1,067 a year on energy at the SP public AC median above. If its road tax and insurance together cost an assumed $1,000 more, only $67 remains before maintenance and depreciation.

That is an illustration, not a typical premium. It shows why a fuel comparison and a buying decision need different calculations.

Use this checklist for both cars:

Cost	What to use
Depreciation	Purchase cost less expected sale or deregistration proceeds
Financing	Total interest and fees over your intended holding period
Energy	Your distance, efficiency and actual discounted rates
Road tax and insurance	Figures for the exact variant and driver
Maintenance	Service schedule, wear items and warranty exclusions
Charging access	Subscriptions, parking and idle fees

What the 2026–2027 incentives change

Eligible new EVs can receive combined EEAI and VES reductions of up to $30,000 in 2026, falling to up to $20,000 in 2027. EEAI ends from 1 January 2027; VES continues through that year. These reduce registration costs and are already reflected in a dealer’s all-in price. Do not subtract them twice. LTA’s incentive announcement.

Singapore’s targets distinguish cleaner-energy new car registrations from 2030 from the wider cleaner-energy vehicle vision for 2040. Cleaner-energy includes hybrids; 2030 is not a blanket ban on driving an existing petrol car. LTA’s EV transition guidance, EV roadmap.

Frequently Asked Questions

Are EVs always cheaper to run?

No. They can have lower energy and servicing costs, but charging rates, efficiency, road tax and insurance can narrow or reverse the gap. Compare the vehicles you would actually buy.

Are charging losses real?

Yes. Converting AC to DC and running the car's electronics uses energy that is not stored in the battery. ADAC's 2022 tests found 5–10% losses with AC wallboxes. Its August 2026 test found under 7% across five newer cars at their maximum AC charging power.

Our 90% efficiency default allows for 10% loss; it is a cautious assumption, not a measurement of SP's chargers. Enter 95% to model 5% loss. If your consumption figure already includes charging losses, set efficiency to 100% to avoid counting them twice.

Should I multiply one year’s savings by ten?

Only as a constant-price scenario. Energy prices, mileage and repair costs change, so it is not a forecast of what you will save over a COE cycle.

Should I switch now to capture the EV rebates?

Compare the final purchase price, your current car’s sale proceeds and the full ownership budget. A rebate deadline alone is not a reason to replace a car.

What should I check first?

Find the charging options you can reliably use, get insurance quotes, and check what your current car is worth. Those figures make the comparison specific to you.

Calculate your energy savings

Enter your monthly or yearly distance below. Published RON95 and SP Mobility public AC prices are checked weekly. SP public AC is selected by default; use your station's actual price and petrol discount for a closer comparison.