Wednesday, April 12, 2023
Gasoline prices averaged $3.470 per gallon in the Philadelphia-Camden-Wilmington area in March 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Alexandra Hall Bovee noted that area gasoline prices were 19.5 percent lower than last March when they averaged $4.308 per gallon. Philadelphia-area households paid an average of 19.3 cents per kilowatt hour (kWh) of electricity in March 2023, 12.2 percent higher than the average of 17.2 cents in March 2022. The average cost of utility (piped) gas at $1.480 per therm in March 2023 was 11.9 percent higher than its price of $1.323 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $3.470 per gallon, the price for gasoline in the Philadelphia area was lower than the national average of $3.660 per gallon in March 2023. From 2019 to 2022, local and national prices for gasoline in March differed by 4.7 percent or less. (See chart 1 and table 1.)
The 19.3 cents per kWh that Philadelphia households paid for electricity in March 2023 was 16.3 percent higher than the nationwide average cost of 16.6 cents per kWh. Last March, electricity prices in Philadelphia were 14.7 percent higher than the nation. From 2019 to 2021, prices paid by Philadelphia-area consumers for electricity in March ranged between 10.1 percent to 14.8 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 $1.480 per therm in March 2023, 0.9 percent lower than the national average of $1.493 per therm. Utility (piped) gas prices in the Philadelphia area in March for the previous four years ranged from 6.2 percent lower to 17.9 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 April 2023 is scheduled to be released on Wednesday, May 10, 2023, 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: Wednesday, April 12, 2023