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News Release Information

Friday, February 16, 2024

Contacts Technical information: Media contact:
  • (415) 625-2270

Average Energy Prices, San Francisco-Oakland-Hayward – January 2024

Gasoline prices averaged $4.745 a gallon in the San Francisco-Oakland-Hayward area in January 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Chris Rosenlund noted that area gasoline prices were 17.6 cents higher than last January when they averaged $4.569 per gallon. San Francisco area households paid an average of 41.2 cents per kilowatt hour (kWh) of electricity in January 2024, higher than the 31.7 cents price per kWh paid in January 2023. The average cost of utility (piped) gas at $2.433 per therm in January was lower than the $2.683 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.) 

At $4.745 a gallon, San Francisco area consumers paid 41.5 percent more than the $3.353 national average in January 2024. A year earlier, consumers in the San Francisco area paid 28.5 percent more than the national average for a gallon of gasoline. The local price of a gallon of gasoline has ranged from 28.5 percent to 41.5 percent above the national average in the month of January during the past five years. (See chart 1.)

The 41.2 cents per kWh San Francisco households paid for electricity in January 2024 was 138.2 percent more than the nationwide average of 17.3 cents per kWh. Last January, electricity costs were 88.7 percent higher in San Francisco compared to the nation. In the past five years, prices paid by San Francisco area consumers for electricity exceeded the U.S. average by 70.9 percent or more in the month of January. (See chart 2.)

Prices paid by San Francisco area consumers for utility (piped) gas, commonly referred to as natural gas, were $2.433 per therm, 67.6 percent more than the national average in January 2024 ($1.452 per therm). A year earlier, area consumers paid 47.5 percent more per therm for natural gas compared to the nation. In the San Francisco area over the past five years, the per therm cost for natural gas in January has varied between 35.0 percent and 67.6 percent above the U.S. average. (See chart 3.)

The San Francisco-Oakland-Hayward, Calif. metropolitan area consists of Alameda, Contra Costa, Marin, San Francisco, and San Mateo Counties in California.

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 San Francisco-Oakland-Hayward, CA, January 2023–January 2024, not seasonally adjusted
Year and monthGasoline per gallonElectricity per kWhUtility (piped) gas per therm
United StatesSan Francisco areaUnited StatesSan Francisco areaUnited StatesSan Francisco area






























Last Modified Date: Friday, February 16, 2024