How fuel cost is calculated
Cost per mile = Fuel price ÷ MPG
Monthly cost = Miles per month × Cost per mile and Annual = Monthly × 12
Example
Driving 1,000 miles a month in a 28 MPG car with gas at $3.50 costs about $125 a month, or $1,500 a year.
Fuel is one piece of the puzzle
Fuel is one part of ownership cost. See a broader estimate with the true cost of ownership calculator, which also supports electric vehicles.
Fuel is only one part of the per-mile cost — the car cost per mile calculator adds depreciation, insurance and upkeep.