Is fuel cheap in Canada? I’ve done some calculations using Australian data, and it’s cheaper to pay off a loan to buy an electric car than to keep paying for petrol.
The cheapest EVs here are $25,000. According to the RACV EV loan calculator, borrowing $25,000 for an EV (at current rates for a 7 year loan) means a minimum payment of $196/fortnight, or $98 per week. This could be less if you were doing a novated/salary-sacrificed lease with the tax benefits. The cost of recharging is relatively insignificant (the average 30km commute cost of $1.68 per day, or $11.76 if doing that every day of the week).
Is fuel cheap in Canada? I’ve done some calculations using Australian data, and it’s cheaper to pay off a loan to buy an electric car than to keep paying for petrol.
The cost of petrol is $2.40 per litre. According to the Automobile Association affordability dashboard, the average Australian driver paid $93.81 for fuel every week in Q4 2025, when prices were $1.82 per litre. Scaling up for the x1.32 price increase since last quarter, that’s $123.71 per week on petrol for the average driver.
The cheapest EVs here are $25,000. According to the RACV EV loan calculator, borrowing $25,000 for an EV (at current rates for a 7 year loan) means a minimum payment of $196/fortnight, or $98 per week. This could be less if you were doing a novated/salary-sacrificed lease with the tax benefits. The cost of recharging is relatively insignificant (the average 30km commute cost of $1.68 per day, or $11.76 if doing that every day of the week).
It was <$1.50/L CAD in Canada before this bs.
Meanwhile the cheapest new EV you’ll get is ~50,000CAD.
Before taxes and finance fees.