Wednesday, November 14, 2018
Boston area households paid an average of $2.862 a gallon for gasoline in October 2018, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Deborah A. Brown noted that area gasoline prices were up 26 cents, compared to last October when they averaged $2.602 per gallon. The average cost of electricity at 21.6 cents per kilowatt hour (kWh) in October, was 1.2 cents greater than the 20.4 cents spent last year. Utility (piped) gas prices averaged $1.128 per therm in the Boston area in October 2018, up from a year ago when they averaged $1.075 per therm. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
Boston area consumers paid $2.862 a gallon for gasoline which was similar to the national average of $2.945 in October 2018. One year ago, consumers in the Boston area paid $2.602, which was also similar to the national average of $2.545 for a gallon of gasoline. (See chart 1.)
The 21.6 cents per kWh Boston households paid for electricity in October 2018 was 58.8 percent more than the nationwide average of 13.6 cents per kWh. Last October, electricity costs were 48.9 percent higher in Boston compared to the nation. In each of the last five years, the price of electricity in Boston has exceeded that for the nation in the month of October, by 22.8 percent or more. (See chart 2.)
Prices paid by Boston area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.128 per therm, 10.3 percent higher than the national average in October 2018 ($1.023 per therm). In October of 2017 local prices were 5.4 percent higher than those of the nation ($1.020).(See chart 3.)
The Boston-Cambridge-Newton, Mass.-N.H. Core Based Statistical Area covered in this release is comprised of Essex, Middlesex, Norfolk, Plymouth, Suffolk Counties in Massachusetts; Rockingham, Strafford Counties in New Hampshire.
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: 1-800-877-8339.
|Gasoline, all types,|
per kilowatt hour
|Utility (piped) gas|
Last Modified Date: Wednesday, November 14, 2018