One exemplary embodiment is a system comprising a multi-fuel engine structured to selectably combust varying proportions of a first type of fuel and a second type of fuel, and an electronic control system structured to control the provision of at least one of the first type of fuel and the second type of fuel to the engine using a multi-factor cost optimization. The multi-factor cost optimization may account for a plurality of factors including one or more environment factors, location factors, mission factors, warranty factors, operator-specified factors and/or fleet-specified factors.