Gas Hits Four-Year High at $4.56 a Gallon. Time to Finally Buy That Used EV?

You already know it hurts to fill up. Now AAA has put numbers to the pain: regular gasoline is averaging $4.56 per gallon nationally as of late May, up 50 cents since April and sitting at levels we haven’t seen since 2022’s peak-above-$5 nightmare. Domestic demand is creeping up while supply keeps shrinking, and there’s no relief valve in sight for your summer road trip.

But here’s where it gets interesting. While regular drivers are tightening their belts and checking tire pressure like it’s a religious obligation, the real story is happening in the used EV market. For the first time in a while, $4.56 gas might actually make the math work for switching to battery-electric—and it’s not because EVs are suddenly cheaper to buy.

The Geographic Pain Index

Not all gas prices are created equal. If you live on the West Coast, you’re living in a fever dream of fuel expense. California is the worst offender at $6.14 per gallon, with Washington ($5.64) and Oregon ($5.35) not far behind. Hawaii and Alaska round out the top five at $5.64 and $5.27, respectively—which tells you something about isolation and logistics. At that rate, a 15-gallon fill-up is approaching $90, and no one’s happy about it.

The South gets a break. Mississippi, Georgia, Louisiana, and Texas are all hovering just over $4 per gallon. The Midwest sits somewhere in between, with Indianapolis—home of this weekend’s Indy 500—coming in at $4.04. Geography is destiny here, and if you’re considering an EV, your zip code just became a factor in the ROI calculation.

Why the Used EV Market Just Got Interesting

The real shift is happening quietly in the used-car market. Thanks to a wave of lease returns flooding dealer inventories, used EV prices have already started dropping. Add $4.56 gas to that equation, and the calculus changes fast. A household that’s been sitting on the fence about going electric now has two tailwinds: lower used-EV prices and rising fuel costs that make a gas car’s running costs look increasingly brutal.

For context, charging an EV at public stations averages 41 cents per kilowatt-hour nationally, while home charging runs just 18 cents per kWh. Do the math on a 200-mile commute: a 30-mpg gas car burns 6.7 gallons at $4.56, costing about $30. The same distance in an EV charged at home? Under $4. Over a year, that gap becomes serious money, especially if you’re in California or Washington.

This Hasn’t Moved the Needle (Yet)

Interestingly, rising gas prices haven’t triggered the massive new-EV sales boom you might expect. The market moves slower than fuel prices do, and most buyers aren’t making snap decisions based on a 50-cent jump. But used-EV buyers—the segment shopping for practical, affordable alternatives—are starting to pay attention. It’s not a revolution; it’s a slow tilt toward sensible decision-making.

The households that already own both a gas car and an EV are the ones feeling the real benefit. They can shift more driving to the battery-powered machine and save meaningfully on fuel. Everyone else can still fall back on the classics: stop jack-rabbit launching at stoplights, keep highway speeds reasonable, and—this one matters more than people admit—check your tire pressure. Underinflated tires silently kill your MPG, and NHTSA data consistently shows most drivers run tires 3-5 psi under spec. That low-hanging fruit could save you a gallon per tank.

The Outlook: No Happy Surprises Ahead

AAA isn’t predicting relief anytime soon. If you’re planning that summer road trip—the Griswold family exodus to Wally World or wherever—budget accordingly. Gas is going to stay expensive, supply is going to stay tight, and demand keeps creeping up as people try to get back to normal travel patterns.

The silver lining, if there is one, is that used-EV affordability is finally meeting high gas prices at the same moment. For anyone who’s been curious about going electric but intimidated by the sticker price, this is the window. The lease-return inventory won’t last forever, and gas prices are only pushing the cost-benefit calculation further in the EV’s favor. That’s not a coincidence—it’s a signal that the market is finally ready for the switch, even if most people haven’t consciously realized it yet.

Sources: Car and Driver