How to Create Fuel Cost Calculator Using Excel Formula

In this article, we are going to create a Fuel Cost Calculator using Excel formula. Here, we are going to give you a very easy way to find out the cost of your fuel used to travel various places. You can find out that fuel price is different in different states and you will add unique or same gallons of fuel to your car. That’s why we are going to make an easy Fuel Cost Calculator taking all the variables accountable. Here is an overview of a sample fuel cost calculator for domestic purpose.

Download Practice Workbook

Why Is Fuel Cost Calculator Necessary?

If you want to run a business, you will need to ship products from one place to another. Now you have to find out the total cost of fuel and how you are going to reduce it to improve your business. That’s why we are giving you an easy way to find out fuel cost for your business.

2 Practical Examples to Create Fuel Cost Calculator in Excel Using Formula

Suppose we have to go from Los Angeles to different states for shipping your product. Now we are going to consider that different states have different fuel cost and you have to cross different miles to pass those states. Different dates of shipping are considered to make it more practical because individual shipment can happen among those states where you can pay your employee to deliver goods by bicycle where fuel costs are not needed.

Then we are going to create a Fuel Cost Calculator for domestic Purposes. We will use Toyota car with MPG (Miles per Gallon) of 23.

1. Creating Fuel Cost Calculator for  Business Purpose

In this first example we are going to use cost per gallon of different states to find total cost in different states. We have given easy to follow steps to create your own calculator by your own data. We had our initial reading in odometer 4000.

Steps:

• First we have to create a data chart of odometer readings,state wise fuel cost per gallon and added fuel to cross the states.

• We will need to subtract current odometer reading to previous odometer reading to find out the total miles crossed to pass Los Angeles. So we have used the following formula.

• Then press Enter and we will get the total miles passed on that date.

• Now we will AutoFill the rest to find distance traveled in each refuel date interval by subtracting first and last odometer readings. So the formula will be

• After that, we will get the full mile crossed on different dates.

• Now to find total cost we are going to multiply Gallons Fuel added to Cost per gallon. For that purpose, write down the formula below.

• Then we are going to press Enter, we will get the result of the Total cost.

• Finally, after we AutoFill we will get the rest.

• In order to find cost per mile, we have to divide the total cost divided by Miles.

• Then, we are going to press Enter.

• Finally we are going to AutoFill it to find out Cost per Mile.

• To create a chart we have to select Refuel Date, Total Cost, Cost Per Mile. Long press Ctrl key and select the ranges B4:B10, G4:G10 and H4:H10.
• After that, we go to Insert and select Create Custom Combo Chart.

• Then, we select Combo, set the Chart Type to Line and Scatter for the Series ‘Total Cost’ and Cost per Mile
• Later, click OK.

• Then, we will get the chart.

• Now, let’s format the chart a little bit. Removing gridlines makes the chart simple, so we click on the plus icon at the top right side of the chart and uncheck Gridlines.

• Thereafter, we can see that the range of the axis data is a bit large, so we want to modify it. For that reason, double click on the Fuel Cost data in the chart and the Format Axis window will appear. Set the Minimum Bounds according to your convenience. The Maximum Bound will automatically update as we set it to Auto.

• Similarly, we can set the Bound for the Cost per Mile

• After giving the title Fuel Cost Graph, we get the chart below. Finally, this graph will show the cost variation on different dates.

Thus we can create a fuel cost calculator using Excel formula for business purposes. This will help us to estimate the transportation cost.

Read More: How to Create Electricity Cost Calculator in Excel (with Easy Steps)

2. Creating Fuel Cost Calculator for Domestic Purpose

Here we are going to use how many trips you make to go to work and grocery and their fuel cost of all trips individually and total.

Steps:

• First, we have to create a data table for fuel cost for domestic purposes. The colored Total Cost in cell B12 represents the gross fuel cost.

• Then, we have to find out Cost Per Mile dividing Fuel Cost by MPG.

• Then, we will press ENTER.

• Now, we will get the individual  Total cost by multiplying Total Miles with Cost Per Mile.

• After pressing Enter, we will the find total cost.

• After that, we will Autofill the total cost.

• Thereafter, we are going to use the SUM function to find the total fuel cost of that month.

• Finally, we will get the result of total Fuel Cost in Excel.

Read More: How to Calculate Cost per Unit in Excel (With Easy Steps)

Conclusion

At the end of the article, we can consider that you will learn some basic tips to create a Fuel Cost Calculator in Excel using formulas. If you have any questions and feedback, please note them in the comment section. For enhancing your knowledge about excel please go to ExcelDemy.com to become an Excel master.

Related Articles

• How to Create Opportunity Cost Calculator in Excel
• Use Cost Benefit Analysis Calculator in Excel
• How to Create an Inventory Cost Carrying Calculator in Excel
• Construct Cost Inflation Index Calculator in Excel
• How to Calculate Production Cost in Excel (3 Effective Ways)
• Calculate Average Price in Excel (7 Useful Methods)
• How to Calculate Average Selling Price in Excel (3 Easy Methods)