Wednesday, September 20, 2023
Gasoline prices averaged $3.867 a gallon in the Boston-Cambridge-Newton area in August 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner William J. Sibley noted that area gasoline prices were down 52 cents compared to last August, when they averaged $4.387 per gallon. Boston area households paid an average of 27.9 cents per kilowatt hour (kWh) of electricity in August 2023, down from 28.8 cents per kWh in August 2022. The average cost of utility (piped) gas, at $1.411 per therm in August, compared to $1.692 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $3.867 a gallon, costs for gasoline in the Boston area were 19.7 cents, or 4.8 percent, lower than the national average of $4.064 a gallon in August 2023. Last August, gasoline costs in Boston were 4.3% above the nation. Over the past five Augusts, gasoline prices in the Boston area have ranged from $2.144 to $4.387. (See chart 1.)
The 27.9 cents per kWh that Boston households paid for electricity in August 2023 was 64.1 percent higher than the nationwide average cost of 17.0 cents per kWh. Last August, electricity costs in Boston were 72.5 percent higher than the nation. Boston area electricity costs have exceeded the national average by at least 52.6 percent over the past five Augusts. (See chart 2.)
Prices paid by Boston area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.411 per therm in August 2023, similar to the national average of $1.402 per therm. Last August, natural gas costs in Boston were $1.692, compared to the national average of $1.694. (See chart 3.)
The Boston-Cambridge-Newton, MA-NH Core Based Statistical Area covered in this release is comprised of Essex, Middlesex, Norfolk, Plymouth, Suffolk Counties in Massachusetts and Rockingham and Strafford Counties in New Hampshire.
The Consumer Price Index for September 2023 is scheduled to be released on Thursday, October 12, 2023, at 8:30 AM (ET).
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||Boston area||United States||Boston area||United States||Boston area|
Last Modified Date: Wednesday, September 20, 2023