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Friday, August 29, 2014

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Average Energy Prices, Philadelphia-Wilmington-Atlantic City – July 2014

Gasoline prices averaged $3.640 a gallon in the Philadelphia-Wilmington-Atlantic City area in July 2014, as measured by the Consumer Price Index (CPI), the U.S. Bureau of Labor Statistics reported today. Sheila Watkins, the Bureau’s regional commissioner, noted that area gasoline prices were nearly unchanged from last July when they averaged $3.629 per gallon. Philadelphia area households paid an average of 15.9 cents per kilowatt hour (kWh) of electricity in July 2014, unchanged from July 2013. Meanwhile, the average cost of utility (piped) gas at $1.236 per therm in July slightly increased from $1.219 a year ago. (All data in this release are not seasonally adjusted; accordingly, over-the-year analysis is used throughout.)

At $3.640 a gallon, Philadelphia area consumers paid close to the national average of $3.690 for gasoline in July 2014. A year earlier, the price for a gallon of gasoline in the Philadelphia area was also close to the national average. In fact, local prices for a gallon of gasoline in July differed by less than 4 percent from the national average from 2010 to 2014. (See chart 1 and table 1.)

Chart 1. Average prices for gasoline, Philadelphia-Wilmington-Atlantic City and United States, July 2010-July 2014

The 15.9 cents per kWh that Philadelphia households paid for electricity in July 2014 was 11.2 percent more than the nationwide average of 14.3 cents per kWh. Last July, electricity costs were 16.1 percent higher in Philadelphia compared to the nation. From 2010 to 2012, prices paid by Philadelphia area consumers for electricity in July exceeded the U.S. average by 19 percent or more. (See chart 2.)

Chart 2. Average prices for electricity, Philadelphia-Wilmington-Atlantic City and United States, July 2010-July 2014

The price paid by Philadelphia area consumers for utility (piped) gas, commonly referred to as natural gas, in July 2014 was $1.236 per therm, or 13.1 percent more than the national average of $1.093. A year earlier, local area consumers paid 18.9 percent more per therm for natural gas compared to consumers nationwide. From 2010 to 2012, the per-therm cost for natural gas in Philadelphia was at least 15 percent more than the U.S. average in the month of July. (See chart 3.)

Chart 3. Average prices for utility (piped) gas, Philadelphia-Wilmington-Atlantic City and United States, July 2010-July 2014



The Philadelphia-Wilmington-Atlantic City, Pa.-N.J.-Del.-Md. Consolidated Metropolitan Statistical Area (CMSA) includes Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania; Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, and Salem Counties in New Jersey; New Castle County in Delaware; and Cecil County in Maryland.

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Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.

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, 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.

Table 1. Average prices for utility (piped) gas, electricity, and gasoline, United States and the Philadelphia area, July 2013-July 2014, not seasonally adjusted
Year and Month Gasoline per gallon Electricity per kWh Utility (piped) gas per therm
Philadelphia United States Philadelphia United States Philadelphia United States
2013

July

$3.629 $3.687 $0.159 $0.137 $1.219 $1.025

August

3.617 3.658 0.159 0.137 1.216 1.003

September

3.554 3.616 0.164 0.137 1.186 1.000

October

3.328 3.434 0.161 0.132 1.176 0.999

November

3.288 3.310 0.162 0.130 1.147 0.999

December

3.419 3.333 0.164 0.131 1.127 0.998
2014

January

3.444 3.378 0.162 0.134 1.163 1.040

February

3.469 3.422 0.162 0.134 1.129 1.078

March

3.552 3.590 0.157 0.135 1.219 1.154

April

3.611 3.717 0.156 0.131 1.233 1.137

May

3.671 3.745 0.156 0.136 1.230 1.111

June

3.662 3.750 0.157 0.143 1.233 1.088

July

3.640 3.690 0.159 0.143 1.236 1.093

Last Modified Date: September 2, 2014

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