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Renting EVs or Hybrids Cuts Fuel Costs as Gas Hits $4.56

New York Times Business •
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Gas price $4.56 per gallon, up 50% since February, has squeezed road‑trip budgets. A WalletHub poll found 59% of Americans say high fuel costs are curbing travel plans, and many are eyeing electric or hybrid rentals. Turo reports a 28% year‑over‑year rise in EV and hybrid bookings since mid‑April, while Hertz notes similar spikes.

EVs make up only 3‑5% of the national rental fleet, but they concentrate in states with robust charging networks—California hosts nearly 65,000 public ports, New York about 20,000. The DOE estimates owners can save up to $2,200 annually, yet renters face commercial electricity rates. A 200‑mile trip would cost $36.48 in gasoline versus $25.92 to charge a Nissan Leaf, saving $10.59.

Hybrids deliver better mileage without charging; a 2026 Honda Accord hybrid reaches 51 mpg versus 28 mpg for its gasoline version. For the same 200‑mile leg, a Kia Niro hybrid at 40 mpg costs $22.82 in fuel, $13.69 less than a conventional car and $3.10 below the EV. However, daily rates are higher—Avis lists a hybrid Prius at $81 versus $36 for an economy vehicle, and many agencies impose $35 recharge fees if the battery falls below required levels, adding both cost and time penalties.