Friday, June 10, 2022
Gasoline prices averaged $4.728 per gallon in the Philadelphia-Camden-Wilmington area in May 2022, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Alexandra Hall Bovee noted that area gasoline prices were 52.9 percent higher than last May when they averaged $3.093 per gallon. Philadelphia-area households paid an average of 17.5 cents per kilowatt hour (kWh) of electricity in May 2022, 15.1 percent higher than the average of 15.2 cents in May 2021. The average cost of utility (piped) gas at $1.356 per therm in May 2022 was 25.3 percent higher than its price of $1.082 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $4.728 per gallon, the price for gasoline in the Philadelphia area was close to the national average of $4.695 per gallon in May 2022. From 2018 to 2021, local and national prices for gasoline in May differed by 7.2 percent or less. (See chart 1 and table 1.)
The 17.5 cents per kWh that Philadelphia households paid for electricity in May 2022 was 13.6 percent higher than the nationwide average cost of 15.4 cents per kWh. Last May, electricity prices in Philadelphia were 8.6 percent higher than the nation. From 2018 to 2020, prices paid by Philadelphia-area consumers for electricity in May ranged between 12.5 percent higher to 14.7 percent higher than the U.S. average. (See chart 2.)
The price paid by Philadelphia-area consumers for utility (piped) gas, commonly referred to as natural gas, was $1.356 per therm in May 2022, 13.4 percent lower than the national average of $1.565 per therm. Utility (piped) gas prices in the Philadelphia area in May for the previous four years, ranged from 9.9 percent lower to 17.6 percent higher compared to the U.S. average. (See chart 3.)
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.
The Consumer Price Index for June 2022 is scheduled to be released on Wednesday, July 13, 2022, 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, 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.
Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.
|Year and month||Gasoline per gallon||Electricity per kWh||Utility (piped) gas per therm|
|United States||Philadelphia area||United States||Philadelphia area||United States||Philadelphia area|
Last Modified Date: Friday, June 10, 2022