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Monday, December 22, 2014
Gasoline prices averaged $2.899 a gallon in the Philadelphia-Wilmington-Atlantic City area in November 2014, as measured by the Consumer Price Index (CPI), the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that area gasoline prices decreased from last November when they averaged $3.288 per gallon. Philadelphia area households paid an average of 15.4 cents per kilowatt hour (kWh) of electricity in November 2014, down 4.9 percent from November 2013. Meanwhile, the average cost of utility (piped) gas in Philadelphia at $1.140 per therm in November was nearly unchanged from $1.147 a year ago. (All data in this release are not seasonally adjusted; accordingly, over-the-year analysis is used throughout.)
At $2.899 a gallon, Philadelphia area consumers paid close to the national average of $2.945 for gasoline in November 2014. A year earlier, the price for a gallon of gasoline in the Philadelphia area was also close to the national average. In fact, local prices for a gallon of gasoline in November differed by less than 4 percent from the national average from 2010 to 2014. (See chart 1 and table 1.)
The 15.4 cents per kWh that Philadelphia households paid for electricity in November 2014 was 14.9 percent more than the nationwide average of 13.4 cents per kWh. Last November, electricity costs were 24.6 percent higher in Philadelphia compared to the nation. From 2010 to 2012, prices paid by Philadelphia area consumers for electricity in November exceeded the U.S. average by 28 percent or more. (See chart 2.)
The price paid by Philadelphia area consumers for utility (piped) gas, commonly referred to as natural gas, in November 2014 was $1.140 per therm, 10.1 percent more than the national average of $1.035. A year earlier, local area consumers paid 14.8 percent more per therm for natural gas compared to consumers nationwide. From 2010 to 2012, the per-therm cost for natural gas in Philadelphia was at least 16 percent more than the U.S. average in the month of November. (See chart 3.)
The Philadelphia-Wilmington-Atlantic City, Pa.-N.J.-Del.-Md. Consolidated Metropolitan Statistical Area includes Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania; Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, and Salem Counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland.
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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.
|Year and Month||Gasoline per gallon||Electricity per kWh||Utility (piped) gas per therm|
|Philadelphia||United States||Philadelphia||United States||Philadelphia||United States|
Last Modified Date: Monday, December 22, 2014