Gasoline prices averaged $3.792 a gallon in the Boston-Cambridge-Newton area in October 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that area gasoline prices were little different from last October when they averaged $3.728 per gallon. Boston area households paid an average of 28.2 cents per kilowatt hour (kWh) of electricity in October 2023, down from 29.1 cents per kWh in October 2022. The average cost of utility (piped) gas at $1.369 per therm in October was down from $2.088 per therm one year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.792 a gallon, costs for gasoline in the Boston area were close to the national average of $3.910 a gallon in October 2023. Last October, gasoline costs in Boston were 9.7 percent lower than the nation. Over the past five Octobers, gasoline prices in the Boston area have ranged from $2.137 to $3.792. (See chart 1.)

  

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Chart 1. Average prices for gasoline, the United States and Boston-Cambridge-Newton, MA-NH, 2019–23 (as of October)

Period	United States	Boston
Oct 2019	$2.741	$2.599
Oct 2020	$2.228	$2.137
Oct 2021	$3.477	$3.324
Oct 2022	$4.130	$3.728
Oct 2023	$3.910	$3.792
Source: U.S. Bureau of Labor Statistics.

The 28.2 cents per kWh that Boston households paid for electricity in October 2023 was 66.9 percent higher than the nationwide average cost of 16.9 cents per kWh. In October 2022, electricity costs in Boston were 29.1 cents per kWh, 75.3 percent above the national average of 16.6 cents. Over the past five years, Boston area electricity prices in October have exceeded the national average by at least 54.8 percent. (See chart 2.)

  

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Chart 2. Average prices for electricity, the United States and Boston-Cambridge-Newton, MA-NH, 2019–23 (as of October)

Period	United States	Boston
Oct 2019	$0.136	$0.214
Oct 2020	$0.135	$0.209
Oct 2021	$0.142	$0.228
Oct 2022	$0.166	$0.291
Oct 2023	$0.169	$0.282
Source: U.S. Bureau of Labor Statistics.

Prices paid by Boston area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.369 per therm in October 2023, similar to the national average of $1.388 per therm. Last October, Boston area natural gas prices were $2.088 per therm, 25.2 percent higher than the nationwide average. Over the past five Octobers, natural gas prices in the Boston area have ranged from $1.015 to $2.088. (See chart 3.)

  

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Chart 3. Average prices for utility (piped) gas, the United States and Boston-Cambridge-Newton, MA-NH, 2019–23 (as of October)

Period	United States	Boston
Oct 2019	$1.041	$1.117
Oct 2020	$1.067	$1.015
Oct 2021	$1.383	$1.397
Oct 2022	$1.668	$2.088
Oct 2023	$1.388	$1.369
Source: U.S. Bureau of Labor Statistics.

The Boston-Cambridge-Newton, MA-NH Core Based Statistical Area covered in this release is comprised of Essex, Middlesex, Norfolk, Plymouth, Suffolk Counties in Massachusetts and Rockingham and Strafford Counties in New Hampshire.

The Consumer Price Index for November 2023 is scheduled to be released on Tuesday, December 12, 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, 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.