This study presents a simple power-based microscopic hybrid electric vehicle (HEV) fuel consumption model for use in microscopic traffic software and various connected and automated vehicle (CAV) applications, including eco-routing and eco-drive systems. While numerous HEV energy consumption models have been developed, these models are complex and require vehicle engine data deeming them difficult to implement and making them nontransferable. The proposed model was developed using empirical data for a 2010 Toyota Prius—the most popular HEV. The model was then extended to other HEVs thus extending the domain of application of the model. The proposed fuel consumption model estimates the instantaneous fuel consumption rates of an HEV using instantaneous vehicle operational input variables, including the vehicle’s speed, acceleration, and roadway grade, which can be acquired from global positioning system (GPS) equipment or other sensors. The model estimates vehicle fuel consumption rates consistent with empirical data producing an average error of 2.1% for the Toyota Prius and up to 4% for other HEVs demonstrating the applicability and transferability of the model to various HEVs.