Tuesday, June 21, 2016
Gasoline prices averaged $2.437 a gallon in the Seattle-Tacoma-Bremerton area in May 2016, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Richard Holden noted that area gasoline prices were down 61.2 cents compared to last May when they averaged $3.049 per gallon. Seattle area households paid an average of 10.8 cents per kilowatt hour (kWh) of electricity in May 2016, up from the 9.8 cents per kWh in May 2015. The average cost of utility (piped) gas at $1.085 per therm in May was lower than the $1.253 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.437 a gallon, Seattle area consumers paid 4.9 percent more than the $2.324 national average in May 2016. A year earlier, consumers in the Seattle area paid 7.7 percent more than the national average for a gallon of gasoline. The local price of a gallon of gasoline has been within 9.6 percent of the national average in the month of May during the past five years.(See chart 1.)
The 10.8 cents per kWh Seattle households paid for electricity in May 2016 was 18.8 percent less than the nationwide average of 13.3 cents per kWh. Last May, electricity costs were 28.5 percent lower in Seattle compared to the nation. In each of the past five years during the month of May, prices paid by Seattle area consumers for electricity were less than the U.S. average by at least 18.8 percent. (See chart 2.)
Prices paid by Seattle area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.085 per therm, or 23.7 percent more compared to the national average in May 2016 ($0.877 per therm). A year earlier, area consumers paid 34.7 percent more per therm for natural gas compared to the nation. In the past five years, the per therm cost for natural gas in May in the Seattle area has varied between 6.8 percent and 39.4 percent above the U.S. average. (See chart 3.)
The Seattle-Tacoma-Bremerton, Wash. metropolitan area consists of Kitsap, Thurston, Island, King, Snohomish, and Pierce Counties of Washington.
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, the 3 population size classes, 10 region/size-class cross-classifications, and the 14 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; Federal Relay Service: 800-877-8339.
|Year and month||Gasoline per gallon||Electricity per kWh||Utility (piped) gas per therm|
|Seattle area||United States||Seattle area||United States||Seattle area||United States|
Last Modified Date: Tuesday, June 21, 2016