Enter your total yearly mileage, your mpg of your car, and the average cost of gas for the year to determine your annual fuel cost.
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Annual Fuel Cost Formula
The following formula could be used to calculate your annual fuel cost of driving.
C = M / mpg * g
- Where C is your annual fuel cost
- M is the total yearly mileage
- mpg is the miles per gallon your car gets
- g is the average cost of a gallon of gas
To calculate annual fuel cost, divide the yearly miles by the miles per gallon, then multiply by the average cost of gas per gallon.
Annual Fuel Cost Definitoin
An annual fuel cost is defined as the total cost spent on fuel during a year.
Annual Fuel Cost Example
How to calculate annual fuel cost?
- First, determine the yearly mileage.
Calculate how many miles you drive per year.
- Next, determine your mpg.
Determine your average miles per gallon.
- Next, determine your average cost of a gallon.
Calculate the cost of a gallon of gas.
- Finally, calculate your annual fuel cost.
Calculate your annual fuel cost using the formula above.
On average drivers living in America drive between 10,000 and 15,000 miles per year.
In 2020, the average cost of gas in America is between $2.50 and $3.50.
Most modern sedans can achieve MPGS of 25-35 miles per gallon, while SUVs get 15-25 miles per gallon.