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Import fuel prices up 21.9 percent in June 2020; largest monthly increase on record

July 20, 2020

Over the month, prices for U.S. imports increased 1.4 percent in June 2020, after rising 0.8 percent the previous month. Led by higher fuel prices, the increase in June was the largest since prices rose 1.4 percent from February 2012 to March 2012. Import fuel prices increased 21.9 percent in June, the largest advance since monthly prices were first published in September 1992.

 1-month percent change in selected import prices
Month All imports Fuels and lubricants Petroleum Natural gas All imports excluding fuels

Jun 2010

-1.2% -3.8% -4.1% -0.2% -0.4%

Jul 2010

0.0 1.0 0.8 5.1 -0.3

Aug 2010

0.4 1.0 1.4 -4.9 0.3

Sep 2010

0.0 -1.5 -1.3 -5.9 0.3

Oct 2010

1.1 4.3 4.7 -3.5 0.3

Nov 2010

1.7 4.8 5.0 1.9 0.8

Dec 2010

1.4 5.6 5.5 10.2 0.3

Jan 2011

1.5 4.1 3.7 10.4 0.7

Feb 2011

1.7 5.6 5.5 8.7 0.5

Mar 2011

3.0 9.7 11.0 -12.8 0.8

Apr 2011

2.6 7.6 8.0 -1.1 0.8

May 2011

0.1 -0.6 -0.8 3.1 0.3

Jun 2011

-0.6 -2.3 -2.4 -0.5 0.0

Jul 2011

0.1 0.1 0.4 -3.4 0.2

Aug 2011

-0.4 -2.1 -2.3 3.0 0.2

Sep 2011

-0.1 -1.0 -0.9 -4.2 0.2

Oct 2011

-0.4 -0.6 -0.3 -9.6 -0.2

Nov 2011

0.7 3.4 3.5 3.6 -0.2

Dec 2011

0.0 -0.4 -0.3 -4.0 0.1

Jan 2012

0.0 -0.2 0.0 -6.6 0.2

Feb 2012

0.0 -0.1 0.3 -10.9 0.0

Mar 2012

1.4 4.4 4.9 -12.9 0.4

Apr 2012

-0.1 -0.9 -0.6 -14.3 0.2

May 2012

-1.5 -5.6 -5.7 -3.8 -0.1

Jun 2012

-2.3 -8.5 -8.9 7.9 -0.3

Jul 2012

-0.7 -2.0 -2.4 12.4 -0.4

Aug 2012

1.2 6.1 6.2 5.3 -0.2

Sep 2012

1.0 3.9 4.0 -0.5 0.2

Oct 2012

0.3 0.1 -0.1 7.7 0.2

Nov 2012

-0.7 -2.2 -2.9 23.4 -0.2

Dec 2012

-0.6 -2.2 -2.9 16.6 -0.1

Jan 2013

0.5 1.9 2.2 -6.1 0.2

Feb 2013

0.9 3.6 3.9 -2.1 0.1

Mar 2013

-0.1 0.0 0.0 -0.2 -0.1

Apr 2013

-0.7 -2.4 -3.0 15.4 -0.2

May 2013

-0.6 -1.7 -1.8 1.3 -0.4

Jun 2013

-0.4 -0.7 -0.7 -2.8 -0.3

Jul 2013

0.1 1.7 2.6 -21.8 -0.4

Aug 2013

0.4 2.6 2.9 -7.7 -0.2

Sep 2013

0.3 1.0 1.1 -5.5 0.1

Oct 2013

-0.6 -3.3 -3.6 11.7 0.1

Nov 2013

-0.9 -4.2 -4.6 7.9 0.0

Dec 2013

0.1 0.7 -0.2 31.2 -0.1

Jan 2014

0.4 0.8 0.1 21.2 0.3

Feb 2014

1.1 5.9 5.2 22.1 0.0

Mar 2014

0.5 1.0 0.6 10.2 0.3

Apr 2014

-0.6 -2.6 -1.1 -27.2 0.0

May 2014

0.3 1.2 1.9 -12.4 0.0

Jun 2014

0.3 1.6 1.7 -1.4 -0.1

Jul 2014

-0.3 -1.5 -1.5 0.3 0.1

Aug 2014

-0.8 -3.8 -3.6 -12.4 0.0

Sep 2014

-0.8 -3.6 -3.7 -2.4 -0.2

Oct 2014

-1.4 -6.8 -7.2 -1.1 -0.1

Nov 2014

-1.8 -9.3 -9.7 -2.0 -0.3

Dec 2014

-2.5 -15.0 -16.4 11.1 -0.1

Jan 2015

-3.2 -20.1 -21.2 -9.0 -0.7

Feb 2015

-0.4 -1.9 -1.4 -12.7 -0.2

Mar 2015

-0.2 1.5 2.2 -10.7 -0.4

Apr 2015

-0.2 1.8 2.4 -12.0 -0.3

May 2015

1.1 10.8 11.7 -1.0 0.0

Jun 2015

0.1 1.5 1.6 1.9 -0.2

Jul 2015

-0.9 -6.1 -6.3 -1.7 -0.3

Aug 2015

-1.8 -12.7 -13.5 0.4 -0.3

Sep 2015

-1.1 -8.4 -9.4 6.6 -0.3

Oct 2015

-0.3 -0.4 -0.2 -3.6 -0.3

Nov 2015

-0.6 -4.0 -4.0 -4.7 -0.3

Dec 2015

-1.2 -10.0 -10.5 -7.5 -0.3

Jan 2016

-1.3 -15.6 -17.2 0.0 -0.1

Feb 2016

-0.5 -6.8 -7.2 -6.6 -0.1

Mar 2016

0.4 8.5 10.8 -20.0 -0.1

Apr 2016

0.7 9.8 10.7 4.3 0.1

May 2016

1.2 12.7 13.9 -1.3 0.3

Jun 2016

0.7 10.5 11.4 -5.3 -0.2

Jul 2016

0.1 -2.1 -3.1 28.0 0.3

Aug 2016

-0.2 -3.4 -4.1 10.3 0.0

Sep 2016

0.1 1.3 0.9 11.5 0.0

Oct 2016

0.5 6.6 7.5 -4.6 0.0

Nov 2016

-0.1 -1.1 -1.7 11.0 -0.1

Dec 2016

0.4 5.8 5.9 6.1 0.0

Jan 2017

0.6 6.1 5.7 11.6 -0.1

Feb 2017

0.3 0.3 0.8 -10.2 0.3

Mar 2017

-0.2 -3.0 -2.6 -13.6 0.2

Apr 2017

0.2 -0.4 -0.7 8.0 0.3

May 2017

-0.1 -0.9 -0.7 -4.4 0.1

Jun 2017

-0.2 -3.6 -3.8 -0.8 0.1

Jul 2017

-0.2 -1.0 -0.6 -3.1 -0.1

Aug 2017

0.6 4.0 4.6 -5.9 0.3

Sep 2017

0.8 5.7 6.5 -9.7 0.3

Oct 2017

0.2 0.3 0.5 -2.4 0.1

Nov 2017

1.0 9.8 9.5 25.7 0.0

Dec 2017

0.2 3.3 2.8 20.0 -0.2

Jan 2018

0.8 3.3 2.7 13.4 0.5

Feb 2018

0.2 -1.8 -1.1 -15.6 0.4

Mar 2018

-0.2 -2.6 -2.4 -10.4 0.1

Apr 2018

0.5 4.0 4.3 -1.9 0.1

May 2018

0.9 6.1 7.4 -24.7 0.2

Jun 2018

0.0 2.6 2.8 -5.4 -0.3

Jul 2018

-0.1 0.8 0.5 21.5 -0.2

Aug 2018

-0.4 -2.1 -2.1 -5.0 -0.2

Sep 2018

0.1 0.0 0.0 -1.6 0.0

Oct 2018

0.5 3.3 2.9 17.9 0.1

Nov 2018

-1.6 -12.2 -14.9 62.4 -0.2

Dec 2018

-1.4 -13.3 -15.3 18.4 0.0

Jan 2019

0.2 4.6 7.8 -33.9 -0.3

Feb 2019

1.0 10.2 10.2 12.9 0.1

Mar 2019

0.6 7.2 6.4 23.6 -0.2

Apr 2019

0.2 1.9 4.6 -47.2 -0.1

May 2019

0.2 3.6 3.8 -1.9 -0.3

Jun 2019

-1.1 -7.8 -7.5 -22.1 -0.3

Jul 2019

0.0 0.1 0.3 -3.7 0.0

Aug 2019

-0.6 -4.2 -4.5 6.4 -0.1

Sep 2019

0.1 1.0 0.9 1.5 -0.1

Oct 2019

-0.4 -1.6 -2.4 32.0 -0.3

Nov 2019

0.2 2.2 0.9 44.3 -0.1

Dec 2019

0.2 1.3 0.8 14.3 0.1

Jan 2020

0.2 -0.1 0.4 -12.8 0.3

Feb 2020

-0.7 -9.1 -9.0 -14.0 0.2

Mar 2020

-2.4 -26.5 -27.1 -16.4 0.0

Apr 2020

-2.6 -31.3 -32.8 -3.3 -0.5

May 2020

0.8 15.4 16.1 6.4 0.1

Jun 2020

1.4 21.9 23.0 6.8 0.3

Prices for import petroleum rose 23.0 percent in June, after advancing 16.1 percent in May. Natural gas prices increased 6.8 percent in June, following an increase of 6.4 percent from April to May. Nonfuel import prices rose 0.3 percent in June, after a 0.1-percent advance in May. 

These data are from the International Price program. Import prices are subject to revision. To learn more, see “U.S. Import and Export Prices — June 2020.” See more charts on import and export price trends in Charts related to the latest “U.S. Import and Export Price Indexes” news release.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import fuel prices up 21.9 percent in June 2020; largest monthly increase on record on the Internet at https://www.bls.gov/opub/ted/2020/import-fuel-prices-up-21-point-9-percent-in-june-2020-largest-monthly-increase-on-record.htm (visited October 29, 2020).

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