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Gas Cost Per Mile Formula:
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Gas Cost Per Mile is a calculation that determines how much you spend on fuel for each mile driven. This metric helps drivers understand their vehicle's fuel efficiency in monetary terms and is useful for budgeting and comparing different vehicles.
The calculator uses the simple formula:
Where:
Explanation: This calculation divides the cost of one gallon of gas by the number of miles your vehicle can travel on that gallon, giving you the cost for each mile driven.
Details: Understanding your cost per mile helps with budgeting for road trips, comparing vehicle efficiency, making informed decisions about vehicle purchases, and tracking changes in fuel expenses over time.
Tips: Enter the current gas price in USD per gallon and your vehicle's MPG rating. Both values must be positive numbers. For accurate results, use your actual observed MPG rather than the manufacturer's rating.
Q1: How accurate is this calculation?
A: The calculation is mathematically precise, but your actual cost may vary based on driving conditions, vehicle maintenance, and actual fuel efficiency.
Q2: What's a good cost per mile?
A: This varies based on gas prices and vehicle efficiency. Generally, lower is better. Many efficient vehicles achieve 5-10 cents per mile, while less efficient vehicles may cost 15-25 cents per mile or more.
Q3: Should I use city or highway MPG?
A: Use the MPG that matches your typical driving conditions. For mixed driving, you might average the two or track your actual fuel consumption over several tanks.
Q4: Does this include other vehicle costs?
A: No, this calculation only includes fuel costs. Total cost of ownership should include maintenance, insurance, depreciation, and other expenses.
Q5: How often should I recalculate?
A: Recalculate whenever gas prices change significantly or if your vehicle's fuel efficiency changes due to maintenance, modifications, or changing driving patterns.