Written by David Matrick, editor of CheapGasToronto.ca. Price figures come from the station reports published on this site; tax and policy facts link to their official sources. See our About page for editorial standards and our disclaimer for price accuracy notes.
A growing number of Toronto drivers are considering an electric vehicle for their next car, and the question that comes up first is almost always the same: does it actually save money compared with a gasoline vehicle in this climate and this market? The result depends on purchase price, charging access and use. This article works through an illustrative comparison the way you would work through a household budget — per-kilometre costs, infrastructure realities, winter performance, and the break-even point on the upfront price difference.
These are scenario assumptions, checked for arithmetic on October 7, 2026. Vehicle prices, annual distance, efficiency, energy rates, maintenance and charger installation figures below are inputs you should replace with your own quotes and bills. They are not observed Toronto averages. Financing, insurance, taxes on purchase, incentives, resale value and major repairs are excluded from the example.
It is written for someone who is not committed in either direction and just wants the numbers laid out clearly. We are not advocating for or against EVs, and we are not ignoring the reasons many Toronto drivers will rationally stick with gasoline for their next vehicle.
Per-kilometre fuel cost in Toronto, 2026
The right way to compare is cost per 100 kilometres of normal driving, holding vehicle class and use roughly constant.
Gasoline scenario: assume 8 L/100 km and $1.65/L, giving $13.20 per 100 km. A separate 11 L/100 km scenario at the same price costs $18.15 per 100 km. Neither is a current Toronto average or a rating for a particular model. Use your vehicle's fuel requirement and measured consumption, then check the relevant reported pump prices.
Home-charging scenario: assume 18 kWh purchased per 100 km and a marginal delivered rate of 16¢/kWh. The result is $2.88 per 100 km. The consumption assumption includes any charging losses; if you use a vehicle's battery-consumption figure instead, account for electricity lost while charging separately.
The Ontario Energy Board's current electricity-rate table explains time-of-use, ultra-low overnight and tiered plans. Those electricity prices are separate from delivery charges and other bill items. Your incremental charging cost depends on your plan, charging time and usage, so 16¢/kWh is an assumption rather than an official all-in Toronto rate.
Public-charging scenario: at an assumed 50¢/kWh, 18 kWh per 100 km costs $9. Check the actual network or stall price, applicable session fees and taxes before using that input. This is not a quoted price for any named provider.
The home-charging question
Charging access can change the comparison substantially. This example assumes a one-time $2,000 home-charger installation; that is a budget input, not a Toronto installation quote. Obtain a quote that covers equipment, electrical capacity, labour and any required approvals. Condo and townhouse residents also need to check building access and charging arrangements.
If you cannot charge at home reliably, the gasoline-vs-EV math is much closer. Compare public or workplace charging costs, reliability and the time involved. For drivers in older inner-city neighbourhoods (the Annex, Kensington Market, Cabbagetown) without dedicated parking, this is a genuine constraint rather than a minor inconvenience.
Winter range in Toronto
Toronto winters are not the worst-case for EVs, but they are not gentle either. Cold weather, cabin heating, trip length and road conditions can affect energy use. The impact varies by vehicle and equipment. NRCan's guide to consumption ratings explains why temperature, accessories and driving conditions can change real-world consumption from published test ratings.
Do not assume a fixed winter range for every EV. Use model-specific guidance and your own cold-weather consumption to plan a reserve. A Muskoka or Ottawa trip may require a charging stop depending on the vehicle, weather and route; check a suitable stop and a backup before leaving.
Check whether the specific model and trim includes a heat pump or battery preconditioning. Equipment and performance vary, and garage parking does not guarantee that cold-weather range losses disappear.
Maintenance and depreciation
Battery EVs avoid combustion-engine oil changes and spark plugs, but still require tires, brake care and other service specified by the manufacturer. This example budgets $3,500 for gasoline-vehicle maintenance and $1,500 for EV maintenance over five years. These are illustrative budgets, not measured average maintenance bills.
Resale value and major repairs are excluded rather than assigned a universal depreciation rate. Compare model-specific resale estimates, warranty coverage and vehicle condition separately. A different resale value can outweigh the operating-cost difference shown here.
The break-even calculation
Here is a simplified five-year scenario assuming 20,000 km/year, a $40,000 gasoline vehicle and a $50,000 EV. These are hypothetical inputs, not a claim about a typical Toronto commute or equivalent models:
- Gasoline (8 L/100km, $1.65/L): 5-year fuel cost ≈ $13,200. Maintenance over 5 years ≈ $3,500. Total operating cost ≈ $16,700 on top of the purchase price.
- EV (18 kWh/100km, 90% of electricity at 16¢/kWh and 10% at 50¢/kWh): Five-year electricity cost is $3,492, rounded to $3,500. Maintenance ≈ $1,500. Add a one-time $2,000 home-charger install. Total operating cost ≈ $7,000 on top of the purchase price.
The EV operating-cost advantage over 5 years is roughly $9,700, which closes most of the $10,000 purchase-price gap in this example. Using the rounded budgets, purchase price plus the included operating costs is $56,700 for gasoline and $57,000 for the EV. This is not a complete total-cost-of-ownership comparison: the excluded financing, insurance, incentives, repairs and resale value can change the result.
For drivers who cannot charge at home and rely on public DC fast chargers, the EV operating-cost advantage shrinks dramatically. The 5-year electricity cost at an assumed 50¢/kWh is $9,000 instead of about $3,500. With the same $1,500 maintenance budget and no home-charger installation, that EV scenario totals $60,500 including purchase price, before the other excluded costs. Recalculate with the charging access and rates you actually expect to use.
Where this leaves Toronto drivers
Apply the example to your own situation:
- If you have a single-family home or townhouse with a garage and have reliable home charging: compare your marginal electricity rate, installation quote, annual distance and the purchase-price gap. Lower charging costs can improve the EV scenario without guaranteeing a lower ownership cost.
- If you live in a condo or apartment without a charging stall:calculate public and workplace charging costs and access first. Compare alternatives using model-specific prices and consumption; a plug-in hybrid also needs charging access to realize its electric-driving benefit.
- If you tow regularly, do high highway mileage to remote areas, or drive a heavy work truck: check loaded range, suitable charging stops, vehicle capacity and the time needed on your actual routes before making a fuel-cost comparison. A low per-kilometre energy cost alone does not establish fit.
Why this article exists on a gas-price site
The point of this site is to help Toronto drivers spend less on getting around. For a meaningful percentage of our readers, the answer to "how do I spend less on fuel?" over a 5–10 year horizon will involve at least considering whether their next vehicle should be electric. We are not pushing anyone in either direction — just laying out the math the way we'd work it out for ourselves. For drivers staying in gasoline (which is most people, for now), the rest of the blog has practical tactics: see 5 Smart Ways to Save on Gas and how to time your fill-ups.
Correction, October 7, 2026: costs and annual driving distance are now labelled as illustrative inputs, with OEB and NRCan sources for rate and consumption context. Unsupported universal winter-range, heat-pump and resale claims were removed. The charging mix and excluded ownership costs are explicit.
Related: 5 Smart Ways to Save on Gas · Fuel-Efficient Trip Planning · Gas Price Trends 2026