Gasoline prices averaged $5.082 a gallon in the San Francisco-Oakland-Hayward area in March 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Chris Rosenlund noted that area gasoline prices were similar to last March when they averaged $4.992 per gallon. San Francisco area households paid an average of 41.3 cents per kilowatt hour (kWh) of electricity in March 2024, higher than the 33.2 cents price per kWh paid in March 2023. The average cost of utility (piped) gas at $2.189 per therm in March was higher than the $2.137 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.) 

At $5.082 a gallon, San Francisco area consumers paid 37.1 percent more than the $3.707 national average in March 2024. A year earlier, consumers in the San Francisco area paid 36.4 percent more than the national average for a gallon of gasoline. The local price of a gallon of gasoline has ranged from  31.2 percent to 37.7 percent above the national average in the month of March during the past five years. (See chart 1.)

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Chart 1. Average prices for gasoline, the United States and San Francisco-Oakland-Hayward, CA, 2020–24 (as of March)

Period	United States	San Francisco
Mar 2020	$2.334	$3.213
Mar 2021	$2.856	$3.790
Mar 2022	$4.401	$5.773
Mar 2023	$3.660	$4.992
Mar 2024	$3.707	$5.082
Source: U.S. Bureau of Labor Statistics.

The 41.3 cents per kWh San Francisco households paid for electricity in March 2024 was 137.4 percent more than the nationwide average of 17.4 cents per kWh. Last March, electricity costs were 100.0 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 71.6 percent or more in the month of March. (See chart 2.)

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Chart 2. Average prices for electricity, the United States and San Francisco-Oakland-Hayward, CA, 2020–24 (as of March)

Period	United States	San Francisco
Mar 2020	$0.134	$0.230
Mar 2021	$0.138	$0.251
Mar 2022	$0.150	$0.310
Mar 2023	$0.166	$0.332
Mar 2024	$0.174	$0.413
Source: U.S. Bureau of Labor Statistics.

Prices paid by San Francisco area consumers for utility (piped) gas, commonly referred to as natural gas, were $2.189 per therm, 53.2 percent more than the national average in March 2024 ($1.429 per therm). A year earlier, area consumers paid 43.1 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 March has varied between 43.1 percent and 53.2 percent above the U.S. average. (See chart 3.)

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Chart 3. Average prices for utility (piped) gas, the United States and San Francisco-Oakland-Hayward, CA, 2020–24 (as of March)

Period	United States	San Francisco
Mar 2020	$1.034	$1.491
Mar 2021	$1.144	$1.656
Mar 2022	$1.411	$2.030
Mar 2023	$1.493	$2.137
Mar 2024	$1.429	$2.189
Source: U.S. Bureau of Labor Statistics.

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

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.