According to a report by the Anderson Economic Group, the drop in gas prices gave the cost advantage back to ICE-powered vehicles for the first time since the second quarter of 2021.
The fourth quarter brought relief at the pump for drivers of traditional Internal Combustion Engine (ICE) vehicles as the cost to drive 100 miles dropped by more than $2. With the cost for electricity also trending upward during the year, mid-priced ICE cars became more economical to fuel than their Electric Vehicle (EV) counterparts for the first time in 18 months.
“The run-up in gas prices made EVs
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