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AAA calculates driving cost at 52.2 cents per mile for 2007

Cost of Car Ownership and Operation for 100 Miles of Driving is $52.20

Consumers feeling pinched by increases in day-to-day living expenses can take some comfort in AAA's annual study of driving costs released today. According to the nation's largest organization for motorists, the cost of owning and operating a new vehicle in 2007 remains basically unchanged from a year ago at 52.2 cents per mile, or $7,823 per year, when driving 15,000 miles annually.

"While costs for some items such as insurance and financing increased from the start of 2006, a lower cost for fuel at the end of last year offset these expenses resulting in no net increase in the average driving expense for 2007," said John Nielsen, director of AAA's Approved Auto Repair network.

The average fuel price dropped slightly from 9.5 cents per mile to 8.9 cents per mile compared to one year ago. Fuel prices in the study are based on the fourth quarter 2007 U.S. price for regular grade fuel, which averaged $2.256 per gallon as tracked in the AAA Fuel Gauge Report (www.aaafuelgaugereport.com).

Your Driving Costs - 2007 (PDF)