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Vehicle operating costs down this year
Rochester, N.Y. The annual Your Driving Costs study results were released Friday by AAA, which showed that the costs of owning and operating a vehicle have decreased.
The average cost of operating a sedan dropped to 59.2 cents per mile, which is a 1.64 cent decrease in the last year, based on an average of 15,000 miles of driving per year.
Despite increases in maintenance and registration fees, American motorists are experiencing an overall decrease in the cost to own and operate a vehicle, Tony Spada, President and CEO of AAA Western and Central New York said in a statement. A large decrease is in fuel costs, and lower tire, insurance and depreciation expenses are saving owners more than one and a half cents on every mile they drive.
The largest decrease for drivers came from fuel costs, which are down more than 10 percent to 13 cents per mile. This includes not only fuel prices themselves, but the improvement in average miles per gallon in sedans used in the study.
The Your Driving Costs study has been completed annually since 1950