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News Release Information

Friday, January 12, 2024

Contacts Technical information: Media contact:
  • (617) 565-4141

Average Energy Prices, New York-Newark-Jersey City — December 2023

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.)

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.)

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.)

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).

Technical Note

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.

Table 1. Average prices for gasoline, electricity, and utility (piped) gas, the United States and New York-Newark-Jersey City, NY-NJ-PA, December 2022–December 2023, not seasonally adjusted
Year and monthGasoline per gallonElectricity per kWhUtility (piped) gas per therm
United StatesNew York areaUnited StatesNew York areaUnited StatesNew York area






























Last Modified Date: Friday, January 12, 2024