“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 gallon. Clearly, that is no longer the case. In 2012 the average costs rose 1.1 cents per mile to 59.6 cents per mile, or $8,946 per year, based upon 15,000 miles of annual driving. AAA’s analysis covers vehicles equipped with standard features and optional equipment including automatic transmission, air conditioning, power steering, antilock brakes and cruise control. Rising fuel prices are a key factor in this year’s ‘Your Driving Costs’ study. Paying more at the pump is not only increasing the operational costs of vehicles, but it’s also affecting depreciation values. With the growing appeal of more fuel efficient vehicles, small sedans are experiencing less depreciation and are holding their value longer, while there is a rise in depreciation costs of less fuel-efficient vehicles.”

• See also this AAA news release – “With today being the last day of  2013, the national retail average price of gasoline continues to hover just above the same date last year, and motorists will almost certainly ring in 2014 with the highest price on record for New Year’s Day. This will be the fifth consecutive January 1 that Americans have paid more at the pump than the year prior and the fourth straight year with a new record to start the year.  The national average prices to begin 2011, 2012 and 2013 were $3.07, $3.28 and $3.29 respectively.”