UK drivers could reduce their annual fuel spend by up to 70% by moving to electric vehicles.

Analysis by EV charger supplier Yesss Electrical found that switching from fossil fuel cars to EVs saves up to £627.84 per year in fuel costs.

Its team compared the cost per mile of charging an electric car with fuelling a new petrol or diesel car, based on current pump/energy prices.

They used the popular Tesla Model 3 for the comparison, which achieves 4.4 miles per kilowatt-hour or 4p a mile with current kWh prices.

This was compared to a petrol car achieving 49.2mpg, costing 13p per mile, and a diesel car achieving 55.4mpg, costing 12p per mile; the average mpg statistics for new cars, according to the Department for Transport.

The findings reveal that EV drivers pay just £265.82 per year to drive the UK’s average mileage. In comparison, new petrol car drivers pay £888.42 to fuel their car for a year’s travel, and diesel drivers spend £808.51.

Mark Abbey, director at Yesss Electrical, said: “The cost of living is continuously getting more expensive, and with fuel costs rising, the pressure to keep up can be overwhelming.”

In a recent survey, 39% of those who said they were considering purchasing an EV in 2022 were prompted by the increasing fuel costs.

Abbey continued: “As well as saving money on fuel, EVs experience much less wear and tear than petrol and diesel cars resulting in minimal repair payments.”