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.
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).
You can estimate your vehicle’s MPG by following these steps:
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.
You can calculate your approximate annual mileage by following these steps:
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.
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.
Here are a few useful fuel-saving tips, to help you travel a little further on each tank and increase your MPG:
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.