Wednesday, June 10, 2020
Gasoline prices averaged $1.858 per gallon in the Baltimore-Columbia-Towson area in May 2020, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s Regional Commissioner, noted that area gasoline prices were 33.6 percent lower than their price last May when they averaged $2.797 per gallon. Baltimore-area households paid an average of 13.2 cents per kilowatt hour (kWh) of electricity in May 2020, close to its May 2019 average of 13.1 cents. The average cost of utility (piped) gas at $1.367 per therm in May was 29.2 percent higher than its price of $1.058 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $1.858 per gallon, the price for gasoline in the Baltimore area was 4.5 percent lower than the national average of $1.946 per gallon in May 2020. Gasoline prices in the Baltimore area were below the national average in May for the previous four years, ranging from 3.1 percent to 5.6 percent lower. (See chart 1 and table 1.)
The 13.2 cents per kWh that Baltimore households paid for electricity in May 2020 was close to the nationwide average cost of 13.4 cents per kWh. Last May, electricity prices in Baltimore were 3.7 percent lower than the nation. From 2016 to 2018, prices paid by Baltimore-area consumers for electricity in May differed from the U.S. average by 8.8 percent lower to 11.3 percent higher. (See chart 2.)
The price paid by Baltimore-area consumers for utility (piped) gas, commonly referred to as natural gas, was $1.367 per therm in May 2020, 31.8 percent higher than the national average of $1.037 per therm. Local utility (piped) gas prices were 2.2 percent higher than those for the nation in May 2019. From 2016 to 2018, utility (piped) gas prices in the Baltimore area differed from the national average prices by 0.7 to 17.8 percent in May. (See chart 3.)
The Consumer Price Index for June 2020 is scheduled to be released on Tuesday, July 14, 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: Wednesday, June 10, 2020