Nov '25 (edited) • General discussion
How to calculate the cost of fuel
Here is a sample of calculations, used to figure out the price for fuel for the year so if you have clients who are self-employed, they’ll have the number of mileage that they drove for the year, and the cost of the fuel.
NOTE: you cannot claim both actual expenses and mileage for the same vehicle
- Total miles: 13,073 miles
- Fuel economy assumption: 27 mpg
- Gallons used = 13,073 ÷ 27 ≈ 484 gallons
- Cost per gallon: $3.07
- Annual fuel cost ≈ 484 × $3.07 ≈ $1,486
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How to calculate the cost of fuel
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