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Fuel Costs Calculator

Calculate Your Fuel Costs with Our Easy-to-Use Fuel Costs Calculator

Stay on top of your vehicle expenses with our Fuel Costs Calculator. Whether you’re managing a fleet of vehicles or simply tracking your personal driving costs, this tool helps you accurately estimate how much you’re spending on fuel. Input key details like fuel type, mileage, and fuel efficiency, and get a clear breakdown of your fuel costs, making budgeting and financial planning easier than ever.

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Fuel costs calculator

Enter the details of how many miles you expect to drive in the next twelve months, along with the price you pay for fuel (less VAT if you are VAT registered) and the MPG of your vehicle. This calculator will then provide you with details of how much you spend on fuel per year.

The total personal miles driven per annum.

The Miles Per Gallon of the vehicle.

Does your employer pay for private fuel for a company car? Is it a benefit worth having? Find out by ticking the box and completing the additional information below, if it applies to you.

Your marginal tax rate
The type of fuel that the vehicle uses
The CO2 Emissions of the vehicle.

Note: These calculations are only for illustrative purposes and are not a substitute for professional advice.

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What are Fuel Costs?

Fuel costs refer to the amount of money spent on fuel to power vehicles or machinery. For personal drivers, this typically includes expenses for petrol or diesel used in cars, while businesses may also factor in the cost of fuel for fleets, delivery vehicles, or equipment. Fuel costs can vary depending on factors like fuel prices, the efficiency of the vehicle, driving habits, and the distance travelled. Managing these costs is essential for both individuals and businesses to ensure budgets are adhered to and overall expenses are kept under control.

What are fuel costs?
What is important to plan and track fuel expenses

Why It’s Important to Plan and Track Fuel Costs for Business

For businesses, fuel costs can be a significant expense, especially if you rely on a fleet of vehicles or machinery. Planning and tracking these costs is crucial to maintaining control over your overall operational expenses. By accurately monitoring fuel consumption, businesses can identify inefficiencies, optimise routes, and improve fuel efficiency, ultimately reducing costs. Regular tracking also allows for better budgeting and forecasting, ensuring that fuel expenses don’t unexpectedly affect your bottom line. Additionally, understanding fuel costs helps businesses make informed decisions about vehicle maintenance, upgrades, and whether investing in more fuel-efficient options could offer long-term savings.

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Accounting Wise is a trading style of Accounting Wise Ltd, a limited company registered in England under company number 09365202. Our registered office is: The Carriages, Station Road, Ware, SG12 9PL UK.

Content is for general information only. Always take advice.