3
Fuel
Fuel mileage is
easily calculated. Most of you probably know how to do this calculation so
just humor me. Fuel mileage can be figured over any given time span. I prefer
to have a years worth of data before I calculate fuel mileage because of
weather changes during the year. The issue applies, the more data you have the
more accurate your figures will be. You must fill your tank / tanks at
the beginning and ending mileage figures. Partially filling your tank / tanks
will not give you an accurate calculation. I prefer to let the mechanical kick
off to shout the pump off on both occasions. The reason for this is that if
you keep filling your tank /tanks to an even dollar amount your cost for fuel
will be distorted, thus making your figure inaccurate . When considering the
volume of fuel utilized, accuracy is critical.. To figure out fuel mileage do
your initial fill up and your costs over a given span. Then when you decide to
do a final fill up . Add up all your gallons between the first and last fill
up and their cost of purchases for that time. Then subtract your beginning
mileage from your first fill up from the ending mileage fill up. Divide your
that figure by your gallons used. This will give you your MPG( Miles Per
Gallon).Take your MPG and divide it into your total cost giving you an average
cost per gallon. Again, I repeat it is very important to fill your tank /tanks
on the initial and final fill up. Here are the formulas for calculating fuel
costs:
This is the
formula for your miles per gallon
ENDING MILEAGE  BEGINNING MILEAGE = MILES TRAVELED GALLONS USED
=
MILES PER GALLON
This is
the formula for calculating average cost per gallon
TOTAL COST ~
GALLONS PURCHASED = AVERAGE PRICE PER GALLON
This is the
formula for calculating your cost per mile for fuel expenses
AVERAGE PRICE
PER GALLON ~ MILES PER GALLON = COST PER MILE
Fuel
Mileage Worksheet
Ending
Mileage ___________
Beginning
Mileage  ___________
= ___________
Gallons Used ~ ___________
Miles Per
Gallon = ___________
Price Per Gallon x ___________
Cost Per Mile = ___________
Enter
this figure on line 1 of the equipment worksheet on the last page
