Cost Per Mile Calculator

Divide the fuel price by your MPG. At $3.50/gal and 25 MPG: $3.50 ÷ 25 = $0.14 per mile in fuel. For total vehicle cost per mile, add insurance, maintenance, and depreciation — typically $0.50-0.65/mile total.

The IRS standard mileage rate for 2024 is $0.67 per mile for business driving. This rate covers fuel, depreciation, insurance, repairs, and other vehicle operating costs. If your actual per-mile cost is higher, you may benefit from itemizing.

Fuel-only cost per mile: under $0.10 is excellent (EV or 40+ MPG), $0.10-0.15 is good, $0.15-0.20 is average, above $0.20 is expensive. For rideshare or delivery drivers, staying under $0.12 is critical for profitability.