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- To calculate cost per mile, you need to divide your total expenses by the total number of miles driven123. For example, the USPS drives 1.2 billion miles every year, with annual costs totaling $82.2 billion1. To calculate your cost per mile, you need information from previous trips, such as expense receipts from food, fuel, lodging, and other expenses, and a list of monthly payments, such as truck fees, permits, and insurance2. The formula for calculating cost per mile is Total expenses/Total miles = Total cost per mile23.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Calculating cost per mile becomes a simple equation once you know your mileage and total expenses. Divide your total expenses by the total number of miles driven, and the result is your cost per mile. For example, the USPS drives 1.2 billion miles every year, with annual costs totaling $82.2 billion.optimoroute.com/cost-per-mile/Calculate your cost per mile with this formula: Total expenses/Total miles = Total cost per mile To figure this out, you’ll need information from previous trips: Expense receipts from food, fuel, lodging, and other expenses from the previous month List of monthly payments, such as truck fees, permits, and insurancetruckstop.com/blog/how-to-calculate-cost-per-mile/For the simplest cost-per-mile calculation, you merely divide the total expenses from your profit and loss statement by the total number of miles you drove. You can see the Haulin Assets’ profit and loss statement in the show notes for episode 17 of the podcast. The math is simple: $52,440.37 / 31,307 miles, which equals $1.67 per mile.www.motorcarrierhq.com/tools/calculator-2/
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