Gasoline prices averaged $3.504 a gallon in the New York-Newark-Jersey City area in December 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that area gasoline prices were down 9.6 cents compared to last December when they averaged $3.600 per gallon. New York area households paid an average of 24.1 cents per kilowatt hour (kWh) of electricity in December 2023, up from 23.1 cents per kWh in December 2022. The average cost of utility (piped) gas at $1.621 per therm in December was down from $1.845 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.504 a gallon, costs for gasoline in the New York area were similar to the national average of $3.411 a gallon in December 2023. Last December, gasoline costs in New York were 4.1 percent higher than the nation. Over the past five Decembers, gasoline prices in the New York area have ranged from $2.285 to $3.600. (See chart 1.)

  

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Chart 1. Average prices for gasoline, the United States and New York-Newark-Jersey City, NY-NJ-PA, 2019–23 (as of December)

Period	United States	New York
Dec 2019	$2.652	$2.674
Dec 2020	$2.235	$2.285
Dec 2021	$3.505	$3.581
Dec 2022	$3.459	$3.600
Dec 2023	$3.411	$3.504
Source: U.S. Bureau of Labor Statistics.

The 24.1 cents per kWh that New York households paid for electricity in December 2023 was 42.6 percent more than the nationwide average cost of 16.9 cents per kWh. Last December, electricity costs in New York were 23.1 cents per kWh, 40.0 percent higher than the national average. Over the past five Decembers, New York area electricity prices have exceeded the national average by 40.0 percent or more. (See chart 2.)

  

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Chart 2. Average prices for electricity, the United States and New York-Newark-Jersey City, NY-NJ-PA, 2019–23 (as of December)

Period	United States	New York
Dec 2019	$0.133	$0.193
Dec 2020	$0.136	$0.211
Dec 2021	$0.142	$0.200
Dec 2022	$0.165	$0.231
Dec 2023	$0.169	$0.241
Source: U.S. Bureau of Labor Statistics.

Prices paid by New York area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.621 per therm in December 2023, 13.4 percent above the national average of $1.429 per therm. Utility (piped) gas prices in the New York area have been at least 6.8 percent above the national average over the previous five Decembers. (See chart 3.)

  

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Chart 3. Average prices for utility (piped) gas, the United States and New York-Newark-Jersey City, NY-NJ-PA, 2019–23 (as of December)

Period	United States	New York
Dec 2019	$1.057	$1.282
Dec 2020	$1.114	$1.249
Dec 2021	$1.402	$1.497
Dec 2022	$1.667	$1.845
Dec 2023	$1.429	$1.621
Source: U.S. Bureau of Labor Statistics.

The New York-Newark-Jersey City, NY-NJ-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 January 2024 is scheduled to be released on Tuesday, February 13, 2024, 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.