How To Calculate Gas Cost
Understanding how much gas costs is an important aspect of staying within your household budget and considering your overall commuting expenses. Gas is a variable expense because gas prices tend to fluctuate.
To estimate fuel cost, or compare gas prices between two vehicles, factor in these aspects when using our gas calculator:
- The current price of gas. Specific units, usually gallons, are used to calculate the cost of gas.
- The miles per gallon (MPG) per car. This is specific to your car’s fuel efficiency.
- Miles driven per year. You can also estimate gas cost by the number of miles you intend to drive.
How To Get An Accurate Gas Cost Calculation
For the most accurate calculations, consider the MPG per car may vary depending on your driving style. If you use cruise control, for example, this can change your gas cost estimations. Consider this when conducting a gas mileage comparison.
Another factor to consider is whether you spend more time driving on highways or freeways or if you drive around in a small community or suburb. Those who drive in communities where there is more time spent stopping and starting their cars will have a lower mileage versus those who use an entire gallon of gas driving on the freeway or highway.
What Causes Gas Prices To Increase?
Several factors contribute to the overall increase in gas. According to AAA, gas prices can surge when there is tight supply and increased demand. Geography may also factor in gas price expenses with some states undergoing maintenance in their oil refineries or a limited pipeline supply forcing prices to increase.
*This calculator provides an estimate of gas costs based on the information provided, and is not intended to be a substitute for professional financial advice.