Friday, June 12, 2020
Gasoline prices averaged $2.151 per gallon in the New York-Newark-Jersey City area in May 2020, the U.S. Bureau of Labor Statistics reported today. Chief Regional Economist Martin Kohli noted that gasoline prices were down 84.6 cents from last May, and that this was the lowest May price area households paid since 2004 ($2.066 per gallon). Electricity prices averaged 19.9 cents per kilowatt hour (kWh), up from the 19.4 cents per kWh paid in May 2019. The average price of utility (piped) gas, at $1.210 per therm in May 2020, was similar to last May’s price of $1.196. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.151 a gallon, the price of gasoline in the New York area was 11 percent greater than the $1.946 national average in May 2020. One year earlier, consumers in the New York area paid close to the national average for a gallon of gasoline. For four of the past five years, the local price of a gallon of gasoline in May has been similar to the national average. (See chart 1.)
The 19.9 cents per kWh New York area households paid for electricity in May 2020 was 49 percent more than the national average of 13.4 cents per kWh. Last May, electricity prices were 43 percent higher in the New York area compared to the nation. Over the past five years, electricity prices for local area consumers in May were 33 to 54 percent more than the national average. (See chart 2.)
The average price paid in May 2020 by New York area consumers for utility (piped) gas, commonly referred to as natural gas, was $1.210 per therm, 17 percent more than the national average of $1.037. In May 2019, area consumers paid 16 percent more than the national average. The per-therm cost for natural gas in the New York area in May has exceeded the U.S. average by at least 10 percent over the past four years. (See chart 3.)
The New York-Newark-Jersey City, N.Y.-N.J.-PA., Core Based Statistical Area includes Bronx, Dutchess, Kings, Nassau, New York, Orange, Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties in New York; Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, and Union Counties in New Jersey; and Pike County in Pennsylvania.
The Consumer Price Index for June 2020 is scheduled to be released on Tuesday, July 14, 2020 at 8:30 a.m. (ET).
Data collection by personal visit for the Consumer Price Index (CPI) program has been suspended since March 16, 2020. When possible, data normally collected by personal visit were collected either online or by phone. Additionally, data collection in May was affected by the temporary closing or limited operations of certain types of establishments. These factors resulted in an increase in the number of prices considered temporarily unavailable and imputed.
While the CPI program attempted to collect as much data as possible, many indexes are based on smaller amounts of collected prices than usual, and a small number of indexes that are normally published were not published this month. Additional information is available at
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.
|Year and month||Gasoline per gallon||Electricity per kWh||Utility (piped) gas per therm|
|New York||United States||New York||United States||New York||United States|
Last Modified Date: Friday, June 12, 2020