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Cost Per Mile Formula:
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The Cost of Gas Mileage calculation determines how much you spend on fuel for each mile driven. This helps in budgeting for travel expenses, comparing vehicle efficiency, and making informed decisions about transportation costs.
The calculator uses a simple formula:
Where:
Explanation: The calculation divides the cost of one gallon of fuel by how many miles that gallon can take you, giving you the cost for each mile traveled.
Details: Understanding your cost per mile helps with trip budgeting, vehicle selection, and identifying potential savings through more efficient driving habits or vehicle upgrades.
Tips: Enter the current fuel price in GBP per gallon and your vehicle's MPG rating. Both values must be positive numbers greater than zero for accurate results.
Q1: How often should I calculate my cost per mile?
A: It's useful to recalculate whenever fuel prices change significantly or if you're considering a different vehicle with different fuel efficiency.
Q2: Does this calculation include other vehicle expenses?
A: No, this calculates only fuel costs. Total cost of ownership would include insurance, maintenance, depreciation, and other expenses.
Q3: What's a good cost per mile?
A: This varies based on fuel prices and vehicle efficiency. Generally, lower is better, with most cars ranging from 10-25 pence per mile depending on current fuel prices.
Q4: How can I reduce my cost per mile?
A: Improve fuel efficiency through proper maintenance, smoother driving, reducing vehicle weight, or upgrading to a more fuel-efficient vehicle.
Q5: Does this work for electric vehicles?
A: For EVs, you would calculate cost per mile differently, using electricity cost per kWh and the vehicle's efficiency in miles per kWh.