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Monday, March 02, 2015
Gasoline prices averaged $2.297 a gallon in the Philadelphia-Wilmington-Atlantic City area in January 2015, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that area gasoline prices were down $1.147 compared to last January when they averaged $3.444 per gallon. Philadelphia area households paid an average of 15.9 cents per kilowatt hour (kWh) of electricity in January 2015, nearly unchanged from 16.2 cents per kWh in January 2014. The average cost of utility (piped) gas at $1.140 per therm in January remained close to its price of $1.163 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.297 a gallon, Philadelphia area consumers paid 5.9 percent more than the national average of $2.170 a gallon in January 2015. A year earlier, the price for a gallon of gasoline in the Philadelphia area was close to the national average. In fact, local prices for a gallon of gasoline in January differed by less than 2 percent from the national average from 2011 to 2014. (See chart 1 and table 1.)
The 15.9 cents per kWh that Philadelphia households paid for electricity in January 2015 was 15.2 percent higher than the nationwide average cost of 13.8 cents per kWh. Last January, electricity prices in Philadelphia were 20.9 percent higher than the nation. In fact, from 2011 to 2014, prices paid by Philadelphia area consumers for electricity in January exceeded the U.S. average by 20 percent or more. (See chart 2.)
Prices paid by Philadelphia area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.14 per therm in January 2015, 10 percent above the national average of $1.036 per therm. In January, utility (piped) gas prices in the Philadelphia area have been above the national average over the previous five years, ranging from 10.0 percent to 21.3 percent higher. (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, March 02, 2015