News Release Information

14–856–NEW

Monday, May 19, 2014

Contacts

Technical information:
Media contact:
  • Martin Kohli (646) 264-3620

Average Energy Prices, New York-Northern New Jersey-Long Island –
April 2014

Electricity prices averaged 19.6 cents per kilowatt hour (kWh) in the New York-Northern New Jersey-Long Island area in April 2014, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli noted that electricity prices were up compared to last April when area households paid 18.6 cents per kWh. Gasoline prices averaged $3.768 a gallon, little changed from the $3.732 per gallon paid in April 2013. The average cost of utility (piped) gas at $1.209 per therm was down from the $1.229 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.768 a gallon, New York area consumers paid 1.4 percent above the $3.717 national average in April 2014. A year earlier, consumers in the New York area paid 2.3 percent more than the national average for a gallon of gasoline. In the past five years, the local price of a gallon of gasoline in April has been within 3 percent of the national average price. (See chart 1.)

Chart 1. Average prices for gasoline, New York-Northern New Jersey-Long Island and the United States, 2010-2014 (as of April)

The 19.6 cents per kWh New York households paid for electricity in April 2014 was 49.6 percent more than the national average of 13.1 cents per kWh. Last April, electricity costs were 45.3 percent higher in New York compared to the nation. In April 2014, local area electricity prices exceeded the nationwide April average by the largest amount since 2010. (See chart 2.)

Chart 2. Average prices for electricity, New York-Northern New Jersey-Long Island and the United States, 2010-2014 (as of April)

Prices paid by New York area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.209 per therm, or 6.3 percent above the national average in April 2014 ($1.137 per therm). A year earlier, area consumers paid 20.5 percent more per therm for natural gas compared to the nation. April prices for natural gas in the local area have exceeded the nationwide average price by 6 to 27 percent in the last five years. (See chart 3.)

Chart 3. Average prices for utility (piped) gas, New York-Northern New Jersey-Long Island and the United States, 2010-2014 (as of April)

The New York-Northern New Jersey-Long Island, N.Y.-N.J.-Conn.-Pa. Consolidated Metropolitan Statistical Area (CMSA) consists of Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York State; Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union, and Warren Counties in New Jersey; Fairfield County and parts of Litchfield, Middlesex, and New Haven Counties in Connecticut; and Pike County in Pennsylvania.

The Consumer Price Index for May 2014 is scheduled to be released on Tuesday, June 17, 2014 at 8:30 a.m. (ET).

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, the 3 population size classes, 10 region/size-class cross-classifications, and the 14 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; Federal Relay Service: 800-877-8339.
Table 1. Average prices for gasoline, electricity, and utility (piped) gas, New York-Northern New Jersey-Long Island and the United States, April 2013-April 2014, not seasonally adjusted
Year and month Gasoline per gallon Electricity per kWh Utility (piped) gas per therm
New York area United States New York area United States New York area United States
2013

April

3.732 3.647 0.186 0.128 1.229 1.020

May

3.697 3.682 0.193 0.131 1.224 1.036

June

3.711 3.693 0.203 0.137 1.195 1.038

July

3.823 3.687 0.208 0.137 1.171 1.025

August

3.825 3.658 0.197 0.137 1.137 1.003

September

3.764 3.616 0.213 0.137 1.148 1.000

October

3.554 3.434 0.188 0.132 1.160 0.999

November

3.500 3.310 0.191 0.130 1.077 0.999

December

3.610 3.333 0.196 0.131 1.086 0.998
2014

January

3.593 3.378 0.232 0.134 1.222 1.040

February

3.606 3.422 0.207 0.134 1.199 1.078

March

3.695 3.590 0.213 0.135 1.176 1.154

April

3.768 3.717 0.196 0.131 1.209 1.137

Last Modified Date: May 19, 2014