THE COST TO DRIVE IS GOING UP 4.8% PER AAA
The average cost to own and operate a sedan has risen 4.8 percent to 56.6 cents per mile thanks in part to the increasing prices motorists are paying at the pump, AAA says today in its annual driving costs study.Increases in the costs of gas, tires and insurance were the primary factors causing a rise in all categories of vehicles in the U.S., the motor club said. Fuel costs were almost 13 percent higher than the cost of fuel in last year's study.
The average costs of full coverage insurance on sedans also rose 5.7 percent over last year, while tire costs increased an average of 8.7 percent.The disappointing news in the report is that costs could go higher. Crude shot to an 18-month high above $87 this week, from $69 in early February, on investor optimism oil demand would increase following a recovering global economy.
The average cost of a gallon of gas was hovering above $2.80 in Indianapolis today and $2.83 statewide, according to AAA and Oil Price Information Service. That almost $1 higher than at this point a year ago.John Nielsen, director of AAA Auto Repair and Buying, said higher prices affect depreciation values, as the most fuel-efficient vehicles hold their value longer.
The per-mile cost of a small sedan is 43.3 cents compared to an SUV, at 73.9 cents per mile.AAA has published "Your Driving Costs" since 1950. That year, driving a car 10,000 miles per year cost 9 cents per mile, and gasoline sold for 27 cents per
