Tesla Supercharger prices plummet as petrol costs soar in 2024

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Tesla Supercharger prices plummet as petrol costs soar in 2024

Line graph showing the growth of battery electric vehicle sales in Australia over time, with accompanying explanatory text.
Jeffrey Morgan
Jeffrey Morgan
2 Min.

Tesla Supercharger prices plummet as petrol costs soar in 2024

Electric vehicle (EV) charging costs at Tesla Superchargers have dropped in recent months, making them more affordable than ever. With petrol and diesel prices rising sharply due to global tensions, many drivers are now finding EVs a cheaper alternative. Interest in electric cars has surged, with online searches, insurance queries, and second-hand sales more than doubling.

In December 2023, Nigel Reynard's nearest Tesla Supercharger charged 70c per kilowatt-hour (kWh). By now, that price has fallen to 52c/kWh. Off-peak rates at the same station are even lower, at 45c/kWh. Some Tesla Superchargers across the country offer off-peak pricing as low as 34c/kWh.

The average cost of charging at a Tesla Supercharger now sits just above 50c/kWh. This drop comes as petrol and diesel prices climb, driven by the Middle East conflict and supply concerns. According to Simon Holmes à Court's calculations, driving an EV the same distance as a petrol or diesel car costs less than one-tenth the price. An average internal combustion engine (ICE) car consumes about 7.3 litres per 100 kilometres. In comparison, an EV uses around 15.6 kWh for the same distance. With fuel prices rising, the cost advantage of EVs has become even clearer. The shift in affordability is also boosting demand. Online searches for EVs, insurance enquiries, and second-hand electric car sales have all more than doubled. Prices for new EVs are now approaching parity with their petrol and diesel counterparts, making them a more accessible option for many buyers.

The drop in Supercharger prices, combined with rising fuel costs, has made EVs a far cheaper choice for drivers. As public interest grows, the gap between electric and traditional vehicles continues to narrow. The trend suggests more Australians may soon switch to electric transport.