New York’s Staten Island — According to research, residents of New York City are now paying more for other energy sources even if gas prices have decreased over the past year.
The New York metropolitan area energy pricing data for December 2024 was recently released by the Bureau of Labor Statistics, providing fresh information on how local energy prices stack up against national averages.
The average cost of gasoline was $3.188 a gallon, which was 31.6 cents less than the average of $3.504 per gallon in December of previous year.
In December, local gas prices were below the national average for the first time in the last five years, at $3.188 a gallon, 8.9 cents less than the national average of $3.277.
New Yorkers are now paying more for other energy sources, even if their gas prices are lower than they were in the past and the nation as a whole.
Prices for electricity increased by 3.1 cents, from 24.1 cents per kWh in December 2023 to 27.2 cents per kWh in December 2024.
Electricity costs in the New York area have now been at least 40% higher than the national average for the last five Decembers, with the 27.2 cents per kWh being a startling 54.5% more than the 17.6 cent national average.
The average price of natural gas, also known as utility (piped) gas, increased by 24.8 cents from December 2023 to December 2024, from $1.621 per therm to $1.869 per therm.
For the sixth consecutive year, regional natural gas prices were at least 7% higher than the national average, with the price of $1.869 per therm being 22.8% higher than the national average of $1.522 per therm.
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