Gasoline prices averaged $3.188 a gallon in the New York-Newark-Jersey City area in December 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that area gasoline prices were down 31.6 cents compared to last December when they averaged $3.504 per gallon. New York area households paid an average of 27.2 cents per kilowatt hour (kWh) of electricity in December 2024, up from 24.1 cents per kWh in December 2023. The average cost of utility (piped) gas at $1.869 per therm in December was up from $1.621 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.188 a gallon, costs for gasoline in the New York area were similar to the national average of $3.277 a gallon in December 2024. Last December, gasoline costs in New York were also close to the national average. Over the past five Decembers, gasoline prices in the New York area have ranged from $2.285 to $3.600. (See chart 1 and table 1.)

The 27.2 cents per kWh that New York households paid for electricity in December 2024 was 54.5 percent above the nationwide average cost of 17.6 cents per kWh. Last December, electricity costs in New York were 24.1 cents per kWh, 42.6 percent above the national average of 16.9 cents. Electricity prices in the New York area have been at least 40 percent above the national average over the previous five Decembers. (See chart 2.)

Prices paid by New York area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.869 per therm in December 2024, 22.8 percent above the national average of $1.522 per therm. Last December, local utility (piped) gas prices were 13.4 percent above the national average. Over the past five Decembers, New York area prices for utility (piped) gas have been at least 7 percent above the national average. (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 2025 is scheduled to be released on Wednesday, February 12, 2025, 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 2023–December 2024, not seasonally adjusted

Year and month	Gasoline per gallon		Electricity per kWh		Utility (piped) gas per therm
	United States	New York area	United States	New York area	United States	New York area
2023
December	$3.411	$3.504	$0.169	$0.241	$1.429	$1.621
2024
January	3.353	3.399	0.173	0.265	1.452	1.656
February	3.486	3.438	0.173	0.255	1.465	1.649
March	3.707	3.512	0.174	0.266	1.429	1.645
April	3.907	3.701	0.173	0.259	1.375	1.581
May	3.885	3.832	0.175	0.252	1.369	1.575
June	3.729	3.711	0.178	0.288	1.407	1.598
July	3.747	3.725	0.178	0.288	1.408	1.613
August	3.648	3.608	0.177	0.276	1.401	1.558
September	3.478	3.380	0.178	0.273	1.399	1.700
October	3.412	3.229	0.177	0.274	1.422	1.717
November	3.315	3.189	0.176	0.262	1.487	1.811
December	3.277	3.188	0.176	0.272	1.522	1.869