Cost Per Mile Calculator

The vehicle cost per mile calculator assists to find the cost per mile by dividing the total expense by the total number of miles driven. The cost per mile driving calculator will provide a precise representation of how much each mile is costing you in terms of fuel, maintenance, and other associated costs.

How to Calculate Cost Per Mile to Drive?

By taking into account the average cost per mile to operate a car, you can estimate the cost per mile to drive. The cost per mile to operate a car can make informed decisions about whether or not it’s worth it to run a particular route. The driving cost per mile calculator uses the fuel price and vehicle data to find the cost of the journey.  The cost of driving per mile is calculated by the formula given below:

CPMd =  [CG/MPG+(CV/25000*0.03)+0.05]

Where:

• CPMd =  Cost per mile of Driving 
• CG = Cost of Gas 
• MPG = Miles per Gallon of the Car 
• CV =  Car Value 

The cost of driving per mile takes into account the cost of gas, the cost of maintenance, insurance and the cost of depreciation. The cost per mile calculator can estimate the mileage according to the distance of a trip, the fuel efficiency of the car, and the price of gas using various units.

Practical Example:

The cost of the gas is $1 and the vehicle mileage is 20 miles per gallon, the value of the car is $9000. Then what is the cost per mile to drive? 

Solution:

Cost Per Mile of Driving Formula

The Following Equation Is Used To Calculate The Cost Per Mile Of Driving.

Cost Per Mile of Driving = Cost of Gas/ Miles Per Gallon Of Car + (Car Value /25000*0.03) + 0.05

The cost to drive a car per mile is:

Cost Per Mile of Driving = 1/ 1+($ 9000/25000*0.03) + 0.05

Cost Per Mile of Driving = 1/ 1+(0.36*0.03) + 0.05

Cost Per Mile of Driving = 1/ 1+( 0.0108) + 0.05

Cost Per Mile of Driving = 0.05 +0.0108 + 0.05

Cost Per Mile of Driving = 0.1108 $

The car cost per mile calculator will assist to manage your fuel cost and to be able to work out the savings on your fuel cost. The cost to drive a car per mile is different for various cars. To calculate the cost to drive per mile, simply divide your total expense by the total number of miles driven. This will provide you an accurate calculation of how much cost per mile to operate a car. 

Working of Cost Per Mile Calculator:

Our calculator requires a couple of inputs to calculate fuel cost per mile. Let’s find out how!

Input:

• Enter the cost of gas per gallon and miles per gallon
• Enter the values of the car in the field
• Tap Calculate

Output:

• Cost per mile of driving
• Step-by-step calculation 

FAQs:

How Much Does 1 Mile Cost?

 According to the U.S. Department of Energy (DOE), the average cost per mile of driving a car is $0.58. 

How Much Does 1 Mile Cost in a Petrol Car?

On a per-mile basis, the fuel costs are 14p - 19p pence per mile for a petrol car; the fuel costs around 15p - 19p pence per mile for a diesel car.

How do you Calculate Petrol Cost Per KM?

Once you have the mileage and fuel cost, divide the fuel cost by mileage to get the cost of fuel per kilometer. Finally, multiply the cost per kilometer by the number of kilometers you intend to cover during the trip.

References:

From the source Wikipedia: Car costs, Calculate cost per mile

From the source Detrack.com: Car expenses, Total miles driven