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Cost Per Mile Formula:
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The Cost Per Mile calculation determines how much it costs to drive one mile based on fuel price and your vehicle's fuel efficiency (MPG). This helps drivers understand and compare the fuel costs of different vehicles or driving conditions.
The calculator uses the simple formula:
Where:
Explanation: This calculation divides the cost of one gallon of fuel by how many miles that gallon will take you, giving you the cost for each mile driven.
Details: Understanding cost per mile helps with budgeting fuel expenses, comparing vehicle efficiency, planning trips, and making informed decisions about vehicle usage and purchases.
Tips: Enter the current fuel price in GBP per gallon and your vehicle's MPG rating. Both values must be positive numbers. For accurate results, use recent fuel prices and your actual vehicle MPG.
Q1: What is a good cost per mile?
A: This varies based on fuel prices and vehicle efficiency. Generally, lower is better. Typical values range from £0.08 to £0.20 per mile for most passenger vehicles.
Q2: How can I improve my cost per mile?
A: You can improve by increasing MPG (maintaining your vehicle, driving efficiently) or reducing fuel costs (shopping for better fuel prices, using loyalty programs).
Q3: Does this include other vehicle costs?
A: No, this calculation only includes fuel costs. Total cost per mile would include insurance, maintenance, depreciation, and other ownership expenses.
Q4: How accurate is this calculation?
A: It provides a good estimate for fuel costs, but actual MPG can vary based on driving conditions, vehicle load, and maintenance status.
Q5: Should I use imperial or US gallons?
A: This calculator uses imperial gallons (UK) as it's designed for GBP. Note that imperial gallons are larger than US gallons (1 imperial gallon = 1.2 US gallons).