Gasoline prices averaged $3.241 a gallon in the Boston-Cambridge-Newton area in October 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that area gasoline prices were down 55.1 cents compared to last October. Boston area households paid an average of 30.2 cents per kilowatt hour (kWh) of electricity in October 2024, up from 28.2 cents per kWh in October 2023. The average cost of utility (piped) gas at $1.578 per therm in October was up from $1.369 per therm one year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.241 a gallon, costs for gasoline in the Boston area were 17.1 cents, or 5.0 percent, below the national average of $3.412 a gallon in October 2024. Last October, gasoline costs in Boston were similar to the nation. Over the past five Octobers, gasoline prices in the Boston area have ranged from $2.137 to $3.792. (See chart 1.)

The 30.2 cents per kWh that Boston households paid for electricity in October 2024 was 12.5 cents, or 70.6 percent, higher than the national average cost of 17.7 cents per kWh. In October 2023, electricity costs in Boston were 28.2 cents per kWh, 66.9 percent above the national average of 16.9 cents. Over the past five years, Boston area electricity prices in October have exceeded the national average by at least 54 percent. (See chart 2.)

Prices paid by Boston area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.578 per therm in October 2024, 11 percent higher than the national average of $1.422 per therm. Last October, Boston area natural gas prices were $1.369 per therm, similar to the national average. Over the past five Octobers, natural gas prices in the Boston area have ranged from $1.015 to $2.088. (See chart 3.)

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

The Consumer Price Index for November 2024 is scheduled to be released on December 11, 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 Boston-Cambridge-Newton, MA-NH, October 2023–October 2024, not seasonally adjusted

Year and month	Gasoline per gallon		Electricity per kWh		Utility (piped) gas per therm
	United States	Boston area	United States	Boston area	United States	Boston area
2023
October	$3.910	$3.792	$0.169	$0.282	$1.388	$1.369
November	3.623	3.617	0.168	0.286	1.442	2.200
December	3.411	3.473	0.169	0.285	1.429	2.202
2024
January	3.353	3.356	0.173	0.297	1.452	2.171
February	3.486	3.354	0.173	0.291	1.465	2.171
March	3.707	3.412	0.174	0.297	1.429	2.171
April	3.907	3.613	0.173	0.297	1.375	2.153
May	3.885	3.740	0.175	0.297	1.369	1.588
June	3.729	3.645	0.178	0.297	1.407	1.588
July	3.747	3.666	0.178	0.301	1.408	1.588
August	3.648	3.581	0.177	0.305	1.401	1.561
September	3.478	3.378	0.178	0.302	1.399	1.561
October	3.412	3.241	0.177	0.302	1.422	1.578