Fact #365: March 28, 2005
The Cost of Driving a Car
The American Automobile Association (AAA) reports each year on the average cost of owning and operating a car. The estimation includes vehicle depreciation, insurance, maintenance, fuel costs, tires, license, registration, taxes, and finance charges. Of the 56-cent estimate for 2004, only 6.5 cents, or 11.6%, is for gasoline and oil. The graph below shows the cost per mile with historical data adjusted for inflation.
*Methodology revised by the American Automobile Association
Note: All other costs include maintenance, tires, vehicle depreciation, insurance, license, registration, taxes and finance charges.
Data for historical years adjusted for inflation using the Consumer Price Index.
Supporting Information
| Year | Cost per Mile (constant 2004 cents) |
Gas and Oil Share |
|---|---|---|
| 1994 | 48.9 | 11.8% |
| 1995 | 49.7 | 11.7% |
| 1996 | 50.0 | 10.9% |
| 1997 | 51.4 | 12.1% |
| 1998 | 52.0 | 11.1% |
| 1999 | 51.9 | 9.8% |
| 2000 | 52.5 | 11.6% |
| 2001 | 53.0 | 13.2% |
| 2002 | 51.3 | 9.7% |
| 2003 | 51.7 | 11.6% |
| 2004* | 54.7 | 11.6% |
|
*Methodology revised by the American Automobile Association | ||
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