A new study released by AAA has revealed that the cost of driving has risen in the past year, as drivers are now paying more for fuel and tires.

The annual study, entitled "Your Driving Costs" found that the overall price of owning and operating a vehicle increased by 3.4 percent in 2011. Although the cost for maintenance work and insurance was down, prices for fuel and tires were up. In addition, vehicles began to depreciate at a faster rate – a cost that the organization says many drivers overlook.

"The 2011 rise in costs is due to relatively large increases in fuel, tire and depreciation costs as well as more moderate increases in other areas," said John Nielsen, national director for AAA.

Specifically, fuel costs were up 8.6 percent, despite a rise in fuel economy for the most popular vehicles. Tire prices increased a whopping 15.7 percent, and drivers lost nearly 5 percent more due to depreciation.

Drivers who want to keep their costs down may want to consider purchasing a used car from New Jersey State Auto Auction. These vehicles won't depreciate nearly as fast and will also cost a lot less than buying new.