U.S. Senator Martin Heinrich (D-N.M.), ranking member of the U.S. Senate Energy and Natural Resources Committee, recently released a new fact sheet detailing how much Americans can save with electric vehicles (EVs) as gas prices skyrocket due to the war with Iran.

EV owners will save an estimated $1,300 a year in fuel costs, according to the fact sheet.

“Electric vehicles aren’t impacted by volatile oil and gas markets," Heinrich said in a May 29 news release. "If President Trump is serious about working to lower Americans’ costs, he needs to work to find solutions that bring costs down and invest in American-made energy solutions that are reliable."

The closing of the Strait of Hormuz has caused gas prices to reach their highest level in four years. The national average for gas is $4.52. On average, American households have paid an additional $340 more in gas prices. The May consumer index dropped for the third consecutive month, falling to 44.2 and below the previous record low of 49.8 set in April, largely due to high pump prices.

The nationwide average, according to the American Automobile Association (AAA), is now above $4.50 per gallon, meaning the average American is paying over $18 to drive 100 miles. By comparison, a typical EV costs about $5 to drive the same distance.

An EV owner driving 200 miles per week that gets 25 miles per gallon saves about $25 per week, or $103 per month, in fuel costs by driving an EV instead of a gasoline-powered car.

Over the course of a year, an EV driver can save up to $1,341.60 per vehicle. When drivers take advantage of charging programs offered by their power provider, they save more. For instance, in Arizona, rates may be as low as 3 cents per kWh, resulting in fuel cost savings of over $1,950 per vehicle per year.

Driving an EV removes the risk of paying skyrocketing oil and gas prices, tying more U.S. transportation spending to cheaper, cleaner electricity, the Senator's office said. As the grid adds more low-cost and renewable power, EVs become an even stronger affordability tool.