How New Mexico compares
Ranked by yearly saving, New Mexico is 26th of 51. Savings run from $66 in Hawaii to $1,276 in Louisiana. The saving here is $76 more than the $1,084 a driver saves at the U.S. average price.
Gas would have to fall below $1.62 a gallon, from $4.33 now, before charging an EV in New Mexico stopped saving money.
Public chargers averaged $0.42/kWh nationally on October 16, 2026, 2.6 times the home price here, so every mile charged in public cuts the saving. Charging only at home would raise it to $1,243 a year.
Four of its five neighbors save more: Arizona, Oklahoma, Texas and Utah, led by Utah at $1,262.
More for New Mexico
- Solar payback in New Mexico: a typical system pays back in 10.1 years.
- Heat pump vs gas in New Mexico: a heat pump saves $101 a year.
What these numbers assume
- 12,000 miles a year.
- An EV that goes 3.5 miles per kWh, with 10% of home charging energy lost between the outlet and the battery.
- 10% of miles charged at public stations at $0.42/kWh, the AAA national average on October 16, 2026.
- A 28 mpg gas car, with regular gas at $4.33 a gallon, the national average on October 12, 2026 (EIA weekly retail price survey).
- Home electricity at the New Mexico average of 16.09¢/kWh.
Change any of them in the calculator above to match your own bills. The formulas are on the main EV vs gas calculator.
Sources
- Electricity price: EIA Electric Power Monthly, Table 5.6.A (July 2026 data).
- Gasoline: EIA weekly U.S. regular retail price, October 12, 2026.
- Public charging: AAA national average, October 16, 2026.
- Rankings: MeterMath calculation with the same inputs for all 50 states and DC.