Formula Used

Fuel Cost = (Distance / Fuel Efficiency) * Fuel Price

In this formula:

• Distance is the total distance traveled by the truck in miles.
• Fuel Efficiency is the number of miles the truck can travel per gallon of fuel.
• Fuel Price is the cost of one gallon of fuel.
• To calculate the fuel cost, you divide the distance by the fuel efficiency to determine the total number of gallons of fuel consumed. Then, you multiply that by the fuel price to obtain the total fuel cost.

Examples of Semi-Truck Fuel Cost Calculations

Why is fuel cost important to know?

When it comes to semi-trucks, the average cost of fuel (specifically, diesel prices) is crucial. Not only does it influence short-term cash flow, but it also significantly impacts overall profitability for owner-operators, trucking companies, and solo truckers.

As such, knowing your truck’s miles per gallon can help you:

• Save money
• Calculate CPM
• Optimize routes
• Keep an eye on carbon emissions
• Estimate overall operating expenses



Many providers offer truck drivers fuel cards and implement fuel efficiency programs to help manage the cost of diesel fuel and ensure their drivers stay within the budget.




Ways to Save Fuel Costs

1. Drive Smoothly and Avoid Rapid Acceleration

Sudden starts, stops, and aggressive driving reduce fuel efficiency. Maintaining a steady speed and accelerating gradually can improve fuel economy by up to 33% on the highway and 5% around town.

Tip: Use cruise control on highways to maintain a consistent speed and avoid unnecessary fuel consumption.

2. Avoid Excessive Idling

Idling for long periods burns fuel unnecessarily. It’s an outdated recommendation that idling uses less fuel than turning your vehicle off and on again, because that was when cars used carboraters. If you’re going to be stopped for more than 10 seconds, it’s more fuel-efficient to turn off your engine and restart when you’re ready to go.

Tip: Newer vehicles with stop-start technology can automatically turn off the engine when idle, helping save fuel.

3. Check Tire Pressure Regularly

Under-inflated tires create more rolling resistance, which makes the engine work harder and consume more fuel. Keeping tires properly inflated can improve gas mileage by up to 3%.

Tip: Check your tire pressure monthly, and inflate tires to the manufacturer’s recommended level.

4. Reduce Excess Weight

Carrying extra weight in your vehicle, especially in the trunk or roof, reduces fuel efficiency. Removing unnecessary cargo can improve fuel economy by 1-2%.

Tip: Avoid using roof racks or carriers unless necessary, as they create drag that reduces fuel efficiency.

5. Limit Use of Air Conditioning

Running the air conditioner can significantly reduce fuel efficiency, especially in stop-and-go traffic. At lower speeds, open the windows instead; at higher speeds, use the A/C more efficiently by keeping it on a moderate setting.

Tip: If you can, park in the shade or use window shades to keep your car cool and reduce the need for air conditioning.

6. Plan Efficient Routes Ahead of Time

Combine errands and plan your trips to avoid backtracking and unnecessary miles. Use apps like Apple Maps, Google Maps, and Waze to check traffic and find the most fuel-efficient routes.

Tip: If at all possible, avoid driving during rush hours to minimize time spent idling in traffic.

7. Perform Regular Maintenance

Keeping your car well-maintained improves fuel efficiency. This includes regular oil changes, replacing air filters, and keeping the engine tuned. Fixing big issues, such as a malfunctioning oxygen sensor, can increase fuel mileage by as much as 40%.

Tip: Use the recommended grade of motor oil for your vehicle, or even better a higher grade to optimize engine performance.

8. Use High-Quality Fuel

While premium fuels may not always improve mileage for all cars, using fuel with detergents can help keep your engine cleaner and more efficient over time.

Tip: Stick to the fuel type recommended by your vehicle’s manufacturer.

9. Optimize Speed

Fuel efficiency usually peaks at around 50-60 mph, so much so that for every 5 mph above 50 mph, “it’s like paying an additional $0.22 per gallon” according to energy.cov.Driving faster than this can reduce efficiency significantly. Reducing your highway speed by just 5 to 10 mph can lead to noticeable fuel savings.

Tip: If possible, drive at moderate speeds on highways and avoid going above 65 mph for the best fuel efficiency.

10. Carpool or Use Public Transportation

Sharing rides with others reduces the number of vehicles on the road and spreads fuel costs across more people. Public transportation can also help reduce your fuel consumption entirely.

Tip: Use ride-sharing apps or organize carpools with colleagues for your daily commute.




Factors That Affect Fuel Prices

Fuel prices are influenced by a variety of factors that can fluctuate over time. Understanding these factors can help you anticipate changes in fuel costs and better plan your budget. Here are some of the key factors:

1. Crude Oil Prices

Crude oil is the main raw material used to produce fuel. When the price of crude oil rises, fuel prices usually follow. Global supply and demand, geopolitical tensions, and production decisions by OPEC (Organization of the Petroleum Exporting Countries) can all affect crude oil prices.

2. Supply and Demand

Fuel prices are driven by the basic economic principle of supply and demand. When demand for fuel increases (e.g., during peak travel seasons) or when supply is disrupted (e.g., due to natural disasters or refinery issues), fuel prices tend to rise.

3. Refining Costs and Profits

After crude oil is extracted, it must be refined into gasoline, diesel, and other fuels. Refining costs, availability of refineries, and profit margins set by refineries influence the final fuel price.

4. Distribution and Marketing Costs

Once fuel is refined, it must be transported to gas stations. Transportation costs, storage, and marketing expenses (such as operating gas stations) all contribute to the price you pay at the pump.

5. Taxes

Fuel taxes vary by country, state, and sometimes even local governments. Taxes can significantly impact the price of fuel, and they are often a major part of the total cost at the pump.

6. Exchange Rates

Crude oil is usually traded in U.S. dollars. Changes in currency exchange rates can affect how much other countries pay for oil, which in turn can affect fuel prices globally.

7. Government Policies and Regulations

Government policies such as subsidies, tariffs, and environmental regulations can impact fuel production, distribution, and prices. Stricter environmental regulations may lead to higher production costs.