With the price of regular gas said to be approaching $4.00 per gallon for this year’s Memorial Day Weekend, we thought that it might be a good idea to look at the best new vehicles for fuel economy.

How they were rated

Here at LotPro.com, we decided to let the government do all the work. This may be a contradiction in terms, but the EPA performs yeoman’s duties when it comes to slicing and dicing the test results. For the purposes of this article, we used the annual fuel costs in their report, which are based on assumptions of 15,000 miles per year with 55% city driving and 45% highway driving. Figures in parenthesis next to the model are the EPA yearly fuel cost estimates.

In order of yearly fuel costs (based on gas priced at $3.39 per gallon), the winners are:

1. Toyota Prius ($1,103) – The Prius again takes top honors as the most fuel efficient vehicle available in all 50 states (more on that later). Not an enthusiast car by any stretch of the imagination, the Prius does come with a generous amount of passenger and cargo space.

2. Honda Civic Hybrid ($1,210) – Honda’s top entrant is not nearly as commodious as the Prius, giving up 5 cubic feet of passenger space and nearly 4 cubic feet of cargo volume. The big difference between these two vehicles is owner attitude; the Prius was created to flaunt your greenness, while the Civic exists for those who are more subtle about their politics. The Civic Hybrid shares its design with all 8th generation Civics and reaps the rewards of a stiffer chassis, improved interior design and, quite frankly, a much more handsome exterior.

3. Nissan Altima Hybrid ($1,495) – As we have said before, the Altima is a great choice for those of you looking for a more distinctive design than the Camry. A recent re-design is based on the new Nissan D platform and gives the Altima excellent driving dynamics. Hybrid components are based on Toyota’s Hybrid Synergy Drive.

4. Toyota Camry Hybrid ($1,495) – Combined passenger/cargo volume is almost exactly the same as the Prius, with the Camry gaining 4 cubic in passenger volume but giving up 4 cubic feet in cargo volume due to its lack of a hatch. Since Toyota’s Hybrid Synergy Drive is capable of all-electric mode and the EPA gives a 55% weight to this, all Toyota’s have a tendency to score higher than their hybrid competitors.

5. Smart ForTwo Coupe ($1,505) – You, too, can be the first on your block to own a vehicle that is environmentally friendly, but possesses absolutely no functionality outside of seating two people in relative comfort. The required 91 octane fuel only adds to the mystery. While the ForTwo may make sense for city dwellers, its size and ride quality limit it to urban settings. It will be interesting to see how it scores in IIHS crash ratings.

6. Toyota Yaris ($1,592) – When the Yaris was first introduced, we thought that the hatchback was the better looking of the two, but time has a way of changing things. Squint hard at the four door and a mini-Corolla/Camry comes to mind – a big step above the ugly/homely little Echo that it replaced.

7. Ford Escape Hybrid ($1,592) – The Ford is part of a trio of hybrids that includes the Mercury Mariner as well as the Mazda Tribute. Like the Toyota hybrids, its hybrid system is parallel, which means that it can operate in electric-only mode around the city. While the Ford and Mercury versions are available everywhere, the Mazda will only be available in parts of California.

8. Honda Fit ($1,642) – For those of you looking for an incredibly versatile vehicle, the Fit is the answer. For about the same price as a Smart ForTwo and an increase in your yearly gas budget of only $137, the Fit gives you an infinitely better ride as well as a vehicle that can be driven on the expressway sans a Valium/Zanex cocktail.

9. Toyota Corolla ($1,642) – Although the Corolla is not our first choice for a compact ride, you can’t deny its gas-sipping qualities. Throw in Toyota’s traditional quality and a decent amount of interior space and you have a great combination.

10. Mini Cooper ($1,695) – At the opposite end of the Corolla/ForTwo/Yaris spectrum is the Mini. With excellent handling and performance, as well as the closest thing to classic style on this list, the Cooper is the enthusiast choice when it comes to fuel sippers. The newest member of the family, the Clubman, also ties with the standard hardtop with the same mileage numbers.

Honorable Mention:

Honda Civic GX – If the GX was available in more than 2 states – California and New York, it would be at the top of the list. Running on natural gas, the GX gets 24mpg city and 36mpg highway. Because of the price of natural gas, its miles per gallon-equivalent is under $900 per year. Drawbacks include a 250 mile range and a lack of fueling infrastructure. It’s true that you can buy a fueling station for your home, but a full re-fuel requires almost 20 hours.

Tags: EPA, Ford Escape, Ford Escape Hybrid, Fuel Economy, Honda Civic, Honda Civic GX, Honda Civic Hybrid, Honda Fit, Mini Cooper, Nissan Altima, Nissan Altima Hybrid, Smart ForTwo, Toyota Camry, Toyota Camry Hybrid, Toyota Corolla, Toyota Prius, Toyota Yaris