To figure your fuel cost, begin with a full tank of fuel and write down the odometer reading. Each time you fill up, note the number of gallons, how much you pay and the odometer reading. These figures can then be used to calculate average miles per gallon and cost of fuel per mile. For example:
| Gas cost per mile |
| Gallons |
Cost*
|
Odometer
|
| beginning |
|
8,850
|
|
12.4
|
$36.47
|
9,136
|
| 9.5 |
$27.94
|
9,355
|
| 15.7 |
$46.17
|
9,717
|
| 37.6 |
$110.58
|
9,717
|
|
-
|
8,850
|
|
miles driven = |
867
|
Miles per gallon: 867 ÷ 37.6 = 23.1 mpg
Gas cost per mile: $110.58 ÷ 867 = 12.75 cents
* cost per gallon $2.941
To determine your driving costs accurately, keep personal records on all the costs listed below. Use this worksheet to figure your total cost to drive:
| Annual cost per mile |
| operating costs |
|
yearly totals |
| gas and oil per mile |
x |
|
| total miles driven |
|
| total gas |
+
+ |
|
| maintenance |
|
| tires |
|
| total operating costs |
|
|
|
|
|
| ownership costs |
| depreciation |
+
+
+
+ |
|
| insurance |
|
| taxes |
|
| license and registration |
|
| finance charges |
|
| total ownership costs |
+ |
|
|
|
other costs
(washes, accessories, etc.) |
|
| total driving costs |
÷ |
|
| total miles driven |
|
| cost per mile |
|
|
Next: Driving Costs >>
|