Friday, February 14, 2020
Gasoline prices averaged $2.501 per gallon in the Baltimore-Columbia-Towson area in January 2020, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s Regional Commissioner, noted that area gasoline prices were 15.1 percent higher than their price last January when they averaged $2.173 per gallon. Baltimore-area households paid an average of 12.7 cents per kilowatt hour (kWh) of electricity in January 2020, 1.6 percent higher than its January 2019 average of 12.5 cents. The average cost of utility (piped) gas at $1.347 per therm in January was 17.2 percent higher than its price of $1.149 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.501 per gallon, the price for gasoline in the Baltimore area was 4.9 percent lower than the national average of $2.631 per gallon in January 2020. Gasoline prices in the Baltimore area were below the national average in January for the previous four years, ranging from 1.4 percent to 7.6 percent lower. (See chart 1 and table 1.)
The 12.7 cents per kWh that Baltimore households paid for electricity in January 2020 was 5.2 percent lower than the nationwide average cost of 13.4 cents per kWh. Last January, electricity prices in Baltimore were 7.4 percent lower than the nation. From 2016 to 2018, prices paid by Baltimore-area consumers for electricity in January differed from the U.S. average by 0.7 to 9.7 percent higher. (See chart 2.)
The price paid by Baltimore-area consumers for utility (piped) gas, commonly referred to as natural gas, was $1.347 per therm in January 2020, 26.4 percent higher than the national average of $1.066 per therm. Local utility (piped) gas prices were 6.2 percent higher than those for the nation in January 2019. From 2016 to 2018, utility (piped) gas prices in the Baltimore area differed from the national average prices by 6.8 to 20.5 percent in January. (See chart 3.)
The Consumer Price Index for February 2020 is scheduled to be released on Wednesday, March 11, 2020, at 8:30 a.m. (ET).
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; Federal Relay Service: (800) 877-8339.
The Baltimore-Columbia-Towson, MD, Core Based Statistical Area includes Baltimore City and the counties of Anne Arundel, Baltimore, Carroll, Harford, Howard, and Queen Anne’s in Maryland.
|Year and Month||Gasoline per gallon||Electricity per kWh||Utility (piped) gas per therm|
|Baltimore||United States||Baltimore||United States||Baltimore||United States|
Last Modified Date: Friday, February 14, 2020