How much does petrol cost per mile on average UK?

How much does petrol cost per mile on average UK?

1 March 2020 to 31 May 2020

Engine size Petrol — rate per mile LPG — rate per mile
1400cc or less 12 pence 8 pence
1401cc to 2000cc 14 pence 10 pence
Over 2000cc 20 pence 14 pence

How much does it cost per mile to drive UK?

Nimblefins has worked out that the cost to drive a car is around 40p per mile. The car insurance experts came to the conclusion that the average annual car running costs would come to around £3,000 considering each of the factors that contribute.

How much does it cost to drive 1 mile?

After factoring in the costs of financing, insurance, licensing, registration, taxes, maintenance, repairs and gas for dozens of different makes and models, the number crunchers at the organization found that the average cost for a 2018 vehicle is about 59 cents per mile for someone who drives 15,000 miles a year.

How much does mileage cost UK?

Tax: rates per business mile

First 10,000 miles Above 10,000 miles
Cars and vans 45p (40p before 2011 to 2012) 25p
Motorcycles 24p 24p
Bikes 20p 20p

How much does it cost in petrol per mile?

On a per mile basis, the fuel for a petrol car costs around 20.1 pence per mile and for a diesel car costs around 17.9 pence per mile. This is over 3X more expensive than the cost to run an electric car per mile.

Do I have to pay my employee 45p per mile?

You can pay your employee any amount per mile you want but anything above 45p per mile will be classed as a benefit and will need to be reported on a P11D and then taxed. Anything below the 45p per mile can be claimed as tax relief on a self-assessment tax return, which your employee would need to prepare themselves.

How do you calculate cost of gas per mile?

Divide total actual or estimated fuel expenses by actual or estimated annual miles driven to calculate annual fuel cost per mile. For example, if you drove 15,000 miles and spent $1,600 on fuel over the past year, your fuel cost is 1,600 divided by 15,000, or 10.67 cents per mile.

Is 25p a mile good?

25p a mile should be plenty. I ran a 4.4l car a few years ago and worked out I could get just about that economy. I’d agree that the wear/tear and other costs are irrelevant in this case. Just drive like a vicar and you’ll be fine.