Calculate the true cost of driving per mile.
To calculate your cost per mile:
The calculator breaks down your fuel cost per mile and total cost per mile including all fixed expenses.
Cost per mile formulas:
Fuel cost/mile = Fuel price ÷ MPGInsurance cost/mile = Annual insurance ÷ Annual milesMaintenance cost/mile = Annual maintenance ÷ Annual milesTotal cost/mile = Fuel + Insurance + Maintenance cost per mileExample: Gas at $3.50/gal, 25 MPG, 12,000 miles/year, $1,500 insurance, $1,200 maintenance.
$3.50 ÷ 25 = $0.14$1,500 ÷ 12,000 = $0.125$1,200 ÷ 12,000 = $0.10According to AAA, the average cost is about $0.60–$0.75 per mile when including depreciation, financing, insurance, fuel, maintenance, and registration. Fuel alone is typically $0.10–$0.18 per mile.
Drive a fuel-efficient or electric vehicle, maintain proper tire pressure, drive fewer aggressive accelerations, bundle errands to reduce total miles, and shop around for insurance annually.