You may be paying more for food and housing, but that trip to work is likely costing you less these days. In fact, driving costs have fallen to their lowest level in six years, according to an annual study by AAA.
The travel and road service firm estimates the average driver will spend $8,858 to own and operate the typical vehicle this year, a figure that works out to around 57 cents per mile. Credit goes to one particular factor, said AAA managing director John Nielsen.
“Thanks to lower gas prices, American drivers can expect to save hundreds of dollars in fuel costs in 2016,” said Nielsen. “Fortunately, this annual savings more than offsets the moderate increases in maintenance, insurance, finance charges and other costs associated with owning and operating a vehicle.”