Fuel Cost Calculator

Although you may be acutely aware of the cost of your latest fuel top-up, it can be a little trickier to work out exactly how much you’re spending in the longer term.

However, this is important to know, as fuel purchases account for a significant chunk of most people’s annual outgoings. Being able to accurately estimate fuel expenditure can allow you to manage your finances more effectively.

To make things easier, we’ve developed a simple calculator that can provide you with a realistic figure for how much you’re likely to spend on fuel over the next week, month - or year.

How do I calculate my fuel costs?

To calculate your projected fuel spend, simply enter the current price per litre for the relevant fuel type, together with an estimate of your vehicle’s annual mileage and Miles per Gallon (MPG).

 

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What’s my car’s MPG?

You can estimate your vehicle’s MPG by following these steps:

    • Visit a fuelling station, fill your tank, then reset the trip counter before setting off.
    • When you next re-fuel, make a note of the mileage you have covered since your last fuel stop – and how much fuel you have used.
    • Divide the mileage driven by the volume of fuel used in litres. Then covert this figure to MPG (Miles per Gallon) by multiplying it by 4.544.

For a more accurate reading, repeat these steps each time you refuel over the course of a few months. Then, take the average of the figures recorded. Some modern cars have trip computers that automatically record MPG and this is displayed digitally on the dashboard, making the process much easier.

How do I calculate my annual mileage?

You can calculate your approximate annual mileage by following these steps:

    • At the beginning of a typical week, reset your trip counter before driving - and record the mileage travelled at the end of the week. This will give you an estimate for your weekly mileage.
    • When you next re-fuel, make a note of the mileage you have covered since your last fuel stop – and how much fuel you have used.
    • Once you have your weekly reading, multiply this by 52 for an estimate of your annual mileage.

Alternatively, you can refer to the mileage figures recorded in your vehicle’s MOT or service history to work out roughly how many miles you travel each year. You can check the history of any UK-registered car with our free car check tool.

Bear in mind that these figures may be atypical for years when national Coronavirus restrictions were in place.

Where do I find my fuel cost per litre?

You can find recent data on the average cost per litre for your vehicle’s fuel type (i.e. petrol, diesel or LPG) nationally, or in your nearest city, through a simple Google search.

However, if there is a particular local fuelling station that you visit regularly, recording their price per litre for the relevant fuel type would give you a more accurate figure to use with our Fuel Cost Calculator.

Fuel saving tips

Here are a few useful fuel-saving tips, to help you travel a little further on each tank and increase your MPG:

  • Empty your vehicle of any unnecessary items ahead of each trip.
  • Try to minimise the use of features that consume fuel, such as heated seats.
  • Utilise fuel-saving features such as start/stop and cruise control, if available.
  • Make shorter journeys on foot, wherever feasible - and utilise public transport, when this is the more economical option.
  • Stay on top of your vehicle’s servicing schedule and regularly check to ensure that your tyre pressure is within the recommended range.

Looking for more fuel-saving inspiration? Check out our extensive guide on how you can save fuel.

If your fuel costs are still running a little too high, it’s worth considering making the switch to a more economical vehicle, such as an electric car. You can sell your car quickly and easily with a car buying service such as webuyanycar.

To estimate how much your car is worth, use our free car valuation tool.