What is the formula used to calculate cost per mile based on fuel usage only?
Miles driven divided by MPG = gallons used. Gallons used multiplied by price per gallon = total price spent for miles driven. Total cost divided into total miles = cost per mile.
- Take the price of gas and divided it by your cars mpg.
- Price of Gas Per Gallon/Miles Per Gallon = cost per mile.
- $3.12 per gallon/ 22 mpg = 14 cents per mile.
What is the Fuel surcharge formula?
First, decide how much your target price–the price you always want to pay out of pocket for fuel – is. Let’s say your target is $2.
Subtract that from the current national average diesel price. If it’s $5 per gallon (God forbid), the difference is $3 per gallon.
Then divide the difference by six because your truck is getting 6MPG on average. Right now you’ve got a 50 cents/mile fuel surcharge.
And finally multiply that figure by the run length–if the run’s 1000 miles, you’ll tack on $500 in fuel surcharge to the bill.
If you work for a trucking company, they normally fix the surcharge for a month–for June the rate is always going to be, say, 47 cents per mile no matter how high fuel gets.
We first take the average pump price (i.e. national prices) when the load was hauled and compare it to the baseline from which surcharge is calculated. The baseline that many in the industry use is around $1.15 to $1.20 per gallon, depending on the company, region, etc. Note: This price per gallon also happens to coincide with the base target price set for crude oil by OPEC.
To calculate it you divide the pump price by your fuel mileage in miles per gallon (MPG) to come up with a cost per mile (CPM). If we use a baseline fuel cost of $1.20 per gallon and you are using 5 MPG as your fuel mileage calculator, your BASELINE is $0.24 per mile.
You then take the fuel cost per gallon average when the load was hauled and do the same calculation. Surcharge is the difference between this CPM and the baseline CPM.
Another simple way to calculate it with the same result is to just subtract the baseline cost ($1.20 per gallon) from the national average price, then divide it by the fuel mileage in miles per gallon and get the cost per mile (CPM). You will come up with some numbers that will show something similar to the following table.
What is the formula used to calculate cost per kilometer based on fuel used?
Divide kilometers driven by how much fuel was used to figure out how many km your getting per gallon or liter or whatever you use. lets say you got 30km per liter, and the liter of fuel was $3.00. you would take the $3 and divide that by 30 and get your cost per km…in this case…ten cents.
Reference: click here.