4 min read · updated October 11, 2026
How to calculate your cost per mile (trucking, with a real example)
The six buckets that make up an owner-operator's cost per mile, a worked example with 2026 numbers, and the three mistakes that make the number look too low.
"I am just amazed by so many people not knowing their cost per mile." That line is from a trucker forum, in a thread that ran for 12 pages. It is not an insult. Cost per mile is hard to get right, because the truck's money hides in six different places.
Here is the whole thing in plain English, with one example you can copy.
The formula
Cost per mile = all the money the truck needs in a year ÷ all the miles you drive in a year.
That is it. The work is in "all the money". Most people count fuel and the truck payment and stop. The truck does not stop there.
The six buckets
1. Bills that come even when the truck does not move. Truck payment or lease, trailer, insurance (liability, physical damage, cargo, bobtail, occupational accident), plates and permits, ELD, load boards, phone, apps, parking. Add them for a month. A yearly bill? Divide by 12.
2. Fuel, DEF and tolls. Fuel is the price today divided by your miles per gallon. Diesel was $6.38 a gallon in late September 2026, after a record of $6.53 (EIA data). At 6.5 miles per gallon, that is $0.98 a mile, just for fuel.
3. Money to save. Repairs (ATBS suggests 7 to 15 cents a mile), tires (a set, divided by the miles it lasts), your next truck (what it costs minus what you get for this one, divided by the miles until you change), and an emergency fund (a few months of bills, built up over a year). You do not pay these every day. One day you pay them all at once.
4. Your pay. What you want to take home in a week, times the weeks you work, divided by your miles. If you skip this, your "cost per mile" is the point where you work for free.
5. Safety money. A cushion on top of the costs, 10% is common. Diesel moves. Brokers pay late. Something breaks.
6. Empty miles. Deadhead miles cost fuel and time and pay nothing. They do not change your cost per mile. They change the rate you need per loaded mile. More on that in the deadhead guide.
A worked example with 2026 numbers
A dry van owner-operator with own authority. 100,000 miles a year, 48 weeks, 5 days a week. Diesel $6.38, 6.5 miles per gallon. Bills $5,170 a month. Wants $1,200 a week take-home. Keeps 10% safety money. 15% of miles are empty.
| Bucket | Per mile |
|---|---|
| Bills ($5,170 × 12 ÷ 100,000) | $0.62 |
| Fuel, DEF and tolls ($6.38 ÷ 6.5, plus $0.055) | $1.04 |
| Money to save (repairs $0.15, tires $0.03, next truck $0.15, emergency fund $0.07) | $0.40 |
| Cost before your pay | $2.06 |
| Your pay ($1,200 × 48 ÷ 100,000) | $0.58 |
| Safety money (10% of $2.06) | $0.21 |
| True cost per mile | $2.84 |
| Lowest rate per loaded mile ($2.84 ÷ 0.85) | $3.34 |
So this truck needs about $2.84 for every mile it drives, or $3.34 for every loaded mile. That is about $5,900 a week. A broker who says "$2.50 a mile is a great rate" is talking about a different truck.
For scale, ATRI's 2025 study of fleet costs found a record $2.336 a mile for the average fleet, and $1.854 without fuel. Fleets get better fuel prices and insurance than one truck does, and that number does not include an owner's pay goal. Your number will be higher. That is normal.
The three mistakes that make the number look too low
Mixing loaded miles and all miles. Brokers quote per loaded mile. Your fuel burns on every mile. Compare the same kind of mile on both sides.
Forgetting the money to save. Tires and a transmission do not send a monthly bill. They send one big bill. If it is not in your cost per mile, the big bill comes out of your pay.
Leaving yourself out. A cost per mile without your pay tells you when the truck survives, not when you do.
Do the math for your truck
The free cost per mile calculator has these typical numbers filled in. Change them to yours and it updates as you type. If you want to keep the numbers, check every load against them and track your week and your month, that is what the Miles to Money spreadsheet does.
Sources
- EIA weekly diesel prices, via USAFacts: Diesel prices rose 89% from January low to September record high and IndexBox, week of September 28, 2026
- ATRI, An Analysis of the Operational Costs of Trucking (2025), via TruckingInfo
- ATBS, maintenance reserve per mile, as cited in our research on owner-operator costs
Example numbers. This guide is not tax, legal, accounting or financial advice.