AAA Reports That Cost of Owning & Operating a New Vehicle Is Now 54.1 Cents per Mile

Marketwire: "LOS ANGELES, CA--(Marketwire - April 4, 2008) - The Automobile Club of Southern California's 2008 edition of 'Your Driving Costs' shows the cost of driving a passenger vehicle in the United States has increased 1.9 cents per mile in the last year and now averages 54.1 cents per mile.

'While the cost of some driving expenses declined since the start of 2007, higher gasoline prices have more than offset these savings and pushed the overall cost of vehicle ownership and operation higher this year,' said the Auto Club's Automotive Research Center Manager Steve Mazor. In 2008, AAA estimates it will cost $8,121 to own and operate a new passenger car driven 15,000 miles per year. This compares to $7,823 per year in 2007; or 52.2 cents per mile."