Hybrids may be tops when it comes to saving gas, but they’re far from the best choice for budget-conscious car buyers, a new study says.

The four-door hatchback Chevy Aveo from General Motors Corp. leads the ranking of the best new car values based on “total ownership cost” as calculated by Edmunds.com, the Santa Monica, Calif.-based automotive data firm. Based on $5-per-gallon gas, the highest-ranked hybrid was the Honda Civic at No. 10. The Toyota Prius hybrid — No. 1 in the government’s fuel economy rankings — came in 26th.

Hybrids typically get better gas mileage than their non-hybrid counterparts, but carry higher price tags.

A 2008 Aveo hatchback with manual transmission lists for $10,235 and is rated by the EPA at 27 miles per gallon in combined city-highway driving. The Prius, by contrast, has combined fuel economy of 46 mpg and a suggested retail price of $21,500 — and typically sells for thousands of dollars more because of high demand.

The study’s purpose “isn’t to discourage people from buying hybrids,” said Jesse Toprak, head of industry analysis for Edmunds.com. However, “consumers ought to consider regular-engine small cars if their goal is just to save money.”

The Edmunds.com findings are at odds with a recent analysis by Consumer Reports, which ranked both the Prius and the Civic hybrids among the 10 cars that offer “the best fuel economy for the buck.”

Consumer Reports only included vehicles that get its “recommended” rating, which is based on reliability, safety, handling and other factors in addition to price and fuel economy. That’s part of the reason why the Aveo and the Toyota Yaris didn’t make Consumer Reports’ fuel-economy cut.