Gasoline prices averaged $3.597 a gallon in the Minneapolis-St. Paul-Bloomington area in October 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Jason Palmer noted that area gasoline prices were down 21.4 cents compared to last October when they averaged $3.811 per gallon. Minneapolis area households paid an average of 17.6 cents per kilowatt hour (kWh) of electricity in October 2023, up from 16.9 cents per kWh in October 2022. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.597 a gallon, costs for gasoline in the Minneapolis area were 31.3 cents lower than the national average of $3.910 a gallon in October 2023. Over the past five Octobers, gasoline prices in the Minneapolis area have ranged from 18.7 cents to 34.6 cents lower than the national average. (See chart 1.)

  

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Chart 1. Average prices for gasoline, the United States and Minneapolis-St.Paul-Bloomington, MN-WI, 2019–23 (as of October)

Period	United States	Minneapolis
Oct 2019	$2.741	$2.554
Oct 2020	$2.228	$1.947
Oct 2021	$3.477	$3.131
Oct 2022	$4.130	$3.811
Oct 2023	$3.910	$3.597
Source: U.S. Bureau of Labor Statistics.

The 17.6 cents per kWh that Minneapolis households paid for electricity in October 2023 was 4.1 percent higher than the nationwide average cost of 16.9 cents per kWh. Last October, electricity costs in Minneapolis were 16.9 cents per kWh, comparable to the national average of 16.6 cents. Over the past five Octobers, Minneapolis area electricity prices have ranged from 17.6 cents to 14.4 cents per kWh. (See chart 2.)

  

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Chart 2. Average prices for electricity, the United States and Minneapolis-St.Paul-Bloomington, MN-WI, 2019–23 (as of October)

Period	United States	Minneapolis
Oct 2019	$0.136	$0.144
Oct 2020	$0.135	$0.152
Oct 2021	$0.142	$0.153
Oct 2022	$0.166	$0.169
Oct 2023	$0.169	$0.176
Source: U.S. Bureau of Labor Statistics.

The Minneapolis-St. Paul-Bloomington, MN-WI Core Based Statistical Area consists of Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Le Sueur, Mille Lacs, Ramsey, Scott, Sherburne, Sibley, Washington, and Wright Counties in Minnesota; and Pierce and St. Croix Counties in Wisconsin.

Historical average energy prices for the U.S. and select metropolitan areas are available at www.bls.gov/regions/midwest/data/averageenergyprices_selectedareas_table.htm.

The November 2023 Consumer Price Index is scheduled to be released on Tuesday, December 12, 2023, at 7:30 a.m. (CT).

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; Telecommunications Relay Service: 7-1-1.