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News Release Information

24-554-SAN
Friday, March 15, 2024

Contacts Technical information: Media contact:
  • (415) 625-2270

Average Energy Prices, Los Angeles-Long Beach-Anaheim – February 2024

Gasoline prices averaged $4.820 a gallon in the Los Angeles-Long Beach-Anaheim area in February 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Chris Rosenlund noted that area gasoline prices were similar to last February when they averaged $4.771 per gallon. Los Angeles area households paid an average of 28.5 cents per kilowatt hour (kWh) of electricity in February 2024, higher than the 27.1 cents price per kWh paid in February 2023. The average cost of utility (piped) gas at $1.679 per therm in February was lower than the $2.221 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.) 

 

At $4.820 a gallon, Los Angeles area consumers paid 38.3 percent more than the $3.486 national average in February 2024. A year earlier, consumers in the Los Angeles area paid 31.7 percent more than the national average for a gallon of gasoline. The local price of a gallon of gasoline has ranged from 30.9 percent to 39.7 percent above the national average in the month of February during the past five years. (See chart 1.)

Chart 1. Average prices for gasoline, Los Angeles-Long Beach-Anaheim and the United States, 2020-2024 (as of February)

The 28.5 cents per kWh Los Angeles households paid for electricity in February 2024 was 64.7 percent more than the nationwide average of 17.3 cents per kWh. Last February, electricity costs were 61.3 percent higher in Los Angeles compared to the nation. In the past five years, prices paid by Los Angeles area consumers for electricity exceeded the U.S. average by 44.0 percent or more in the month of February. (See chart 2.)

Chart 2. Average prices for electricity, Los Angeles-Long Beach-Anaheim and the United States, 2020-2024 (as of February)

Prices paid by Los Angeles area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.679 per therm, 14.6 percent more than the national average in February 2024 ($1.465 per therm). A year earlier, area consumers paid 38.0 percent more per therm for natural gas compared to the nation. In the Los Angeles area over the past five years, the per therm cost for natural gas in February has varied between 14.6 percent and 38.0 percent above the U.S. average. (See chart 3.)

Chart 3. Average prices for utility (piped) gas, Los Angeles-Long Beach-Anaheim and the United States, 2020-2024 (as of February)

The Los Angeles-Long Beach-Anaheim, Calif. metropolitan area consists of Los Angeles and Orange Counties in California.


Technical Note

Average prices are estimated from Consumer Price Index (CPI) data for selected commodity series to support the research and analytic needs of CPI data users. Average prices for electricity, utility (piped) gas, and gasoline are published monthly for the U.S. city average, the 4 regions, 9 divisions, 2 population size classes, 8 region/size-class cross-classifications, and the 23 largest local index areas. For electricity, average prices per kilowatt-hour (kWh) are published. For utility (piped) gas, average prices per therm, are published. For gasoline, the average price per gallon is published. Average prices for commonly available grades of gasoline are published as well as the average price across all grades.

All eligible prices are converted to a price per normalized quantity. These prices are then used to estimate a price for a defined fixed quantity. The average price per kilowatt-hour represents the total bill divided by the kilowatt-hour usage. The total bill is the sum of all items applicable to all consumers appearing on an electricity bill including, but not limited to, variable rates per kWh, fixed costs, taxes, surcharges, and credits. This calculation also applies to the average price per therm for utility (piped) gas.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.

Table 1. Average prices for gasoline, electricity, and utility (piped) gas, the United States and Los Angeles-Long Beach-Anaheim, CA, February 2023–February 2024, not seasonally adjusted
Year and month Gasoline per gallon Electricity per kWh Utility (piped) gas per therm
United States Los Angeles area United States Los Angeles area United States Los Angeles area

2023

February

$3.622 $4.771 $0.168 $0.271 $1.609 $2.221

March

3.660 4.938 0.166 0.269 1.493 1.768

April

3.839 4.960 0.165 0.269 1.413 1.580

May

3.794 4.907 0.165 0.269 1.385 1.696

June

3.821 4.961 0.170 0.273 1.371 1.716

July

3.842 5.016 0.169 0.280 1.395 1.775

August

4.064 5.299 0.170 0.280 1.402 1.909

September

4.107 5.830 0.171 0.280 1.377 1.806

October

3.910 5.789 0.169 0.287 1.388 1.699

November

3.623 5.156 0.168 0.287 1.442 1.827

December

3.411 4.814 0.169 0.288 1.429 1.604

2024

January

3.353 4.676 0.173 0.285 1.452 1.630

February

3.486 4.820 0.173 0.285 1.465 1.679

 

Last Modified Date: Friday, March 15, 2024