Thursday, June 10, 2021
Gasoline prices averaged $3.093 per gallon in the Philadelphia-Camden-Wilmington area in May 2021, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Alexandra Hall Bovee noted that area gasoline prices were 48.3 percent higher than last May when they averaged $2.086 per gallon. Philadelphia-area households paid an average of 15.2 cents per kilowatt hour (kWh) of electricity in May 2021, close to the average of 15.1 cents in May 2020. The average cost of utility (piped) gas at $1.082 per therm in May was 3.0 percent lower than its price of $1.115 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $3.093 per gallon, the price for gasoline in the Philadelphia area was 1.7 percent higher than the national average of $3.041 per gallon in May 2021. From 2017 to 2020, local and national prices for gasoline in May differed by 7.2 percent or less. (See chart 1 and table 1.)
The 15.2 cents per kh that Philadelphia households paid for electricity in May 2021 was 8.6 percent higher than the nationwide average cost of 14.0 cents per kWh. Last May, electricity prices in Philadelphia were 12.7 percent higher than the nation. From 2017 to 2019, prices paid by Philadelphia-area consumers for electricity in May were higher than the U.S. average by 10.9 percent or more. (See chart 2.)
The price paid by Philadelphia-area consumers for utility (piped) gas, commonly referred to as natural gas, was $1.082 per therm in May 2021, 9.9 percent lower than the national average of $1.201 per therm. Utility (piped) gas prices in the Philadelphia area were above the national average in May for the previous four years, ranging from 2.6 to 17.6 percent higher. (See chart 3.)
The Consumer Price Index for June 2021 is scheduled to be released on Tuesday, July 13, 2021, 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 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Core Based Statistical Area includes Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania; Burlington, Camden, Gloucester, and Salem Counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland.
|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: Thursday, June 10, 2021