Wednesday, August 12, 2020
Gasoline prices averaged $2.234 per gallon in the Baltimore-Columbia-Towson area in July 2020, the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s Regional Commissioner, noted that area gasoline prices were 16.9 percent lower than their price last July when they averaged $2.687 per gallon. Baltimore-area households paid an average of 12.9 cents per kilowatt hour (kWh) of electricity in July 2020, 9.3 percent higher than its July 2019 average of 11.8 cents. The average cost of utility (piped) gas at $1.343 per therm in July 2020 is 28.6 percent higher than its price of $1.044 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.234 per gallon, the price for gasoline in the Baltimore area was close to the national average of $2.243 per gallon in July 2020. Gasoline prices in the Baltimore area were below the national average in July for the previous four years, ranging from 3.6 percent to 5.3 percent lower. (See chart 1 and table 1.)
The 12.9 cents per kWh that Baltimore households paid for electricity in July 2020 was 5.8 percent lower than the nationwide average cost of 13.7 cents per kWh. Last July, electricity prices in Baltimore were 15.7 percent lower than the nation. From 2016 to 2018, prices paid by Baltimore-area consumers for electricity in July differed from the U.S. average by 10.8 percent or less. (See chart 2.)
The price paid by Baltimore-area consumers for utility (piped) gas, commonly referred to as natural gas, was $1.343 per therm in July 2020, 30.8 percent higher than the national average of $1.027 per therm. Local utility (piped) gas prices were 1.5 percent higher than those for the nation in July 2019. From 2016 to 2018, local prices for utility (piped) gas in July differed from the national average by 23.8 percent or less. (See chart 3.)
The Consumer Price Index for August 2020 is scheduled to be released on Friday, September 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: Wednesday, August 12, 2020