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With gas prices through the roof, more travelers are considering alternative vehicles to control costs. But how much will you really save?
May 22, 2026, 5:02 a.m. ET
Since the United States attacked Iran in February, the price of crude oil has shot up by more than 50 percent, causing gas prices to surge to a national average of $4.56 a gallon, according to AAA, the driving and leisure travel membership organization. That’s $1.38 above the price per gallon a year ago.
Travelers are feeling the pinch. In a new study from the personal finance website WalletHub, 59 percent of Americans said high gas prices were affecting their travel plans, and more than half said they planned to spend less on travel this summer compared with last.
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To do that, many are turning to electric and partially electric hybrid rentals. Since mid-April, Turo, a platform for owners to rent their cars, has tracked a 28 percent increase year over year in electric and hybrid bookings. Hertz said it had also seen a rise in interest in recent months.
Fully electric vehicles save money for owners who can charge at home. The U.S. Department of Energy puts the savings at up to $2,200 a year on average.
But the calculation changes when you rent an E.V. and pay commercial rates for a charge. Here is how to do the math — both in money and in time — and where to look for E.V.s and hybrids.
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