SureMileage provides companies with an easy-to-use mileage tracking software that streamlines every step of the reimbursement process.
SureMobile automates mileage tracking, trip logging, and expense report submission for employees and managers on the go.
SureExpense brings the ease and accessibility of CompanyMileage’s mileage tracking solution to all other T&E expenses.
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Last Updated: February 19, 2024
Did you know that oil makes up only 22.8% of the mileage rate? ( see breakdown of IRS mileage rates here ). Therefore, even though oil has dropped 25% that only equates to about 3 cents per mile (6%). Below is a historical look at Mileage Rates, Crude Prices and Avg Fuel Prices. The mileage rate typically is based on the prior year fuel prices as the IRS usually sets the rate Jan 1 each year. As you can see even in 2009 when oil was $53.52 per barrel the rate for 2010 was still 50 ¢ per mile.
We can all hope that oil drops dramatically and therefore gasoline drops and then eventually the IRS mileage rate will drop OR you can check out CompanyMileage.com today to see how we are saving our clients an average of 25% on their mileage reimbursement expense.
Written by The CompanyMileage Team
Marketing
CompanyMileage helps hundreds of organizations across multiple industries effectively manage the cost of reimbursing employee mileage expenses through it's mileage and expense management software solutions.
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Determine an estimated mileage rate based on gas prices in your area.
Figures are based on an internal analysis by CompanyMileage.
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Ready to see what CompanyMileage can do for your bottom line? Learn how using an accurate, efficient, and simple mileage reimbursement software can translate to over $1,000 in annual savings per mobile employee!
There’s a reason why hundreds of organizations prefer using CompanyMileage to track over 500 million miles a year, submit expenses, and process reimbursements. Discover how easy the process can be with the right tools.
On average, our clients experience a tenfold return on investment with CompanyMileage. Don't miss out on these savings – reach out to us today and see how much you could save!
