Fuel Cost Calculator

Use this fuel cost calculator to find the amount of fuel and how much your road trip will cost. This gas cost estimation depends on your vehicle’s fuel efficiency, the distance you’ll travel, and the current fuel prices.

Fuel Cost Formula:

Calculate the fuel cost by dividing the distance by the vehicle’s fuel efficiency to find the number of consumed fuel gallons and then multiply this number by the current price of fuel to get fuel cost. 

Fuel Cost = Distance Fuel Efficiency * Fuel Price per Gallon

From the Formula:

• Distance = How far you’ll travel
• Fuel Efficiency = How far your car can go on one unit of fuel
• Fuel Price = The cost of one unit/gallon of fuel

Example:

Suppose, you have set a journey of 130 km in a vehicle with fuel efficiency of 10 km per liter. So, find out how much will cost of fuel for your total journey. 

Calculations:

Put the values into the formula and calculate using the amount of fuel within the whole journey. 

Fuel amount = Distance Fuel Efficiency

Fuel amount = 130 10 = 13 Liters

To calculate the total cost of fuel here we need to multiply the fuel price by the amount of fuel used during the whole journey. 

Trip Cost = Fuel Amount x Fuel Price 

If the fuel price was set at $16 based on the fuel provided in the earlier example, then to compute the expenses needed for a trip substitute the values into the formula and get:

Trip cost = 13 × 16 = $208

What Factors Determine Fuel Prices?

• Crude Oil Price: Fuel prices depend on crude oil prices which are heavily impacted by global supply, geopolitical events, and OPEC decisions. According to the U.S. Energy Information Administration (EIA), a $1 change in crude oil prices can result in a 2.4% change in fuel prices per gallon.
• Refining Costs: The process of changing crude oil into petroleum products involves the cost of labor, energy, and refining equipment. 
• Distribution and Marketing Costs: This factor involves the cost of transportation, storage costs, and the cost incurred by gas stations. 
• Taxes: Federal, state, and local taxes add to the final prices of petroleum products. 
• Natural Phenomena: Natural phenomena including earthquakes, hurricanes, and flooding can impact the overall production, manufacturing, and transportation of fuel. these factors heavily disturb the fuel cost.

Ways To Take a Road Trip on a Small Budget:

• Choose a destination and plan your route to avoid rush hour and set a shorter route 
• Maintain proper tire inflation, regular tune-ups, and engine health
• Use cruise control, avoid idling, and turn off the engine when parked
• Ensure tires are inflated to the correct pressure specified in your vehicle's manual

FAQs:

Is the fuel price per gallon constant?

No, the price of fuel fluctuates depending on location, time, and other factors. 

What is the difference between regular, premium, and diesel fuel?

➥ Regular fuel is the most common type and is suitable for most vehicles. 

➥ Premium fuel is designed for high-performance engines and often contains additives. 

➥ Diesel fuel is used in diesel engines and has a higher energy density than gasoline.

Does the fuel cost calculator account for different fuel types?

Yes, our calculator automatically accounts for different types of fuel. You just need to enter the values and the calculator determines fuel and trip cost.