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Friday, March 15, 2024
Gasoline prices averaged $4.225 a gallon in the Seattle-Tacoma-Bellevue area in February 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Chris Rosenlund noted that area gasoline prices were 17.2 cents lower than last February when they averaged $4.397 per gallon. Seattle area households paid an average of 13.5 cents per kilowatt hour (kWh) of electricity in February 2024, higher than the 12.6 cents price per kWh paid in February 2023. The average cost of utility (piped) gas at $1.146 per therm in February was lower than the $1.491 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $4.225 a gallon, Seattle area consumers paid 21.2 percent more than the $3.486 national average in February 2024. A year earlier, consumers in the Seattle area paid 21.4 percent more than the national average for a gallon of gasoline. The local price of a gallon of gasoline has ranged from 12.2 percent to 21.4 percent above the national average in the month of February during the past five years. (See chart 1.)
The 13.5 cents per kWh Seattle households paid for electricity in February 2024 was 22.0 percent less than the nationwide average of 17.3 cents per kWh. Last February, electricity costs were 25.0 percent lower in Seattle compared to the nation. In the past five years, prices paid by Seattle area consumers for electricity were less than the U.S. average by 16.8 percent or more in the month of February. (See chart 2.)
Prices paid by Seattle area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.146 per therm, 21.8 percent less than the national average in February 2024 ($1.465 per therm). A year earlier, area consumers paid 7.3 percent less per therm for natural gas compared to the nation. In the Seattle area over the past five years, the per therm cost for natural gas in February has varied between 21.8 percent below and 8.3 percent above the U.S. average. (See chart 3.)
The Seattle-Tacoma-Bellevue, Wash. metropolitan area consists of 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, 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.
Year and month | Gasoline per gallon | Electricity per kWh | Utility (piped) gas per therm | |||
---|---|---|---|---|---|---|
United States | Seattle area | United States | Seattle area | United States | Seattle area | |
2023 | ||||||
February | $3.622 | $4.397 | $0.168 | $0.126 | $1.609 | $1.491 |
March | 3.660 | 4.490 | 0.166 | 0.126 | 1.493 | 1.491 |
April | 3.839 | 4.669 | 0.165 | 0.127 | 1.413 | 1.491 |
May | 3.794 | 4.790 | 0.165 | 0.127 | 1.385 | 1.589 |
June | 3.821 | 5.009 | 0.170 | 0.127 | 1.371 | 1.589 |
July | 3.842 | 5.137 | 0.169 | 0.127 | 1.395 | 1.589 |
August | 4.064 | 5.228 | 0.170 | 0.127 | 1.402 | 1.589 |
September | 4.107 | 5.270 | 0.171 | 0.128 | 1.377 | 1.589 |
October | 3.910 | 5.120 | 0.169 | 0.127 | 1.388 | 1.644 |
November | 3.623 | 4.742 | 0.168 | 0.127 | 1.442 | 1.144 |
December | 3.411 | 4.499 | 0.169 | 0.127 | 1.429 | 0.985 |
2024 | ||||||
January | 3.353 | 4.311 | 0.173 | 0.135 | 1.452 | 1.078 |
February | 3.486 | 4.225 | 0.173 | 0.135 | 1.465 | 1.146 |
Last Modified Date: Friday, March 15, 2024