Friday, April 14, 2023
Gasoline prices averaged $4.490 in the Seattle-Tacoma-Bellevue area in March 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Chris Rosenlund noted that area gasoline prices were 35.8 cents lower than last March when they averaged $4.848 per gallon. Seattle area households paid an average of 12.6 cents per kilowatt hour (kWh) of electricity in March 2023, compared to the 11.7 cents per kWh paid in March 2022. The average cost of utility (piped) gas at $1.491 per therm in March was more than the $1.269 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $4.490 a gallon, Seattle area consumers paid 22.7 percent more than the $3.660 national average in March 2023. A year earlier, consumers in the Seattle area paid 10.2 percent more than the national average for a gallon of gasoline. The local price of a gallon of gasoline has been within 26.4 percent of the national average in the month of March during the past five years. (See chart 1.)
The 12.6 cents per kWh Seattle households paid for electricity in March 2023 was 24.1 percent less than the nationwide average of 16.6 cents per kWh. Last March, electricity costs were 22.0 percent lower in Seattle compared to the nation. In each of the past five years during the month of March, prices paid by Seattle area consumers for electricity were less than the U.S. average by at least 17.2 percent. (See chart 2.)
Prices paid by Seattle area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.491 per therm, similar to the national average in March 2023 ($1.493 per therm). A year earlier, area consumers paid 10.1 percent less per therm for natural gas compared to the nation. In the past five years, the per therm cost for natural gas in March in the Seattle area has varied between 10.2 percent above and 10.1 percent below 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|
Last Modified Date: Friday, April 14, 2023