AAA issues 2016 Your Driving Cost Study
The annual cost to drive a motor vehicle has fallen to a six-year low according to the AAA’s 2016 Your Driving Cost study. According to the study, an American driver can expect to spend 57 cents for each mile driven, that amounts to about $713 per month or $8,556 for the year. The study looks at the common fixed and variable costs that are associated with operating a car.
"Motorists are definitely benefiting from lower prices at the pump,” said Nick Jarmusz, director of public affairs for AAA Wisconsin. “While some of those savings have been off-set by increases in other vehicle related expenses, there should be enough left over to provide most people with a nice bonus.”
AAA factors in a variety of expenses including fuel, insurance, depreciation, licensing, registration, and taxes when figuring the annual cost to operate a vehicle.
AAA has published Your Driving Costs since 1950. That year, driving a car 10,000 miles per year cost 9 cents per mile, and gasoline sold for 27 cents per gallon.