Lower Energy Prices Not Being Seen in Electricity Prices

According to a June report by the U.S. Bureau of Labor Statistics, energy prices have fallen an average of 16.3 percent over the past year. However, this is primarily a reflection of low prices for energy commodities, which decreased by 24.8 percent in total, while the cost of energy services has decreased by an average of just 3.3 percent overall. Here are the complete figures for the energy component of the Consumer Price Index:

  • Energy (overall): -16.3%
    • Energy commodities: -24.8%
      • Gasoline (all types): -25.0%
      • Fuel oil: -27.6%
    • Energy services: -3.3%
      • Electricity: +0.5%
      • Utility (piped) gas service: -15.4%

 

Read the full B.L.S. report here.

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