Average Energy Prices, Baltimore Columbia Towson – November 2024

Gasoline prices averaged $3.194 a gallon in the Baltimore-Columbia-Towson area in November 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Alexandra Hall Bovee noted that area gasoline prices were down 4.1 percent compared to last November when they averaged $3.331 per gallon. Baltimore area households paid an average of 18.1 cents per kilowatt hour (kWh) of electricity in November 2024, compared to 18.2 cents per kWh in November 2023. The average cost of utility (piped) gas at $1.810 per therm in November 2024 was up from $1.510 per therm a year earlier. (See table 1.) (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

Costs for gasoline in the Baltimore area were at $3.194 per gallon, compared to the national average of $3.315 a gallon in November 2024. Last November, gasoline costs in Baltimore were 8.1 percent lower than the nation. From November 2020 to 2022, prices for a gallon of gasoline in Baltimore ranged from $2.223 to $3.741. (See chart 1.)

The 18.1 cents per kWh that Baltimore households paid for electricity in November 2024 was similar to the nationwide average cost of 17.6 cents per kWh. Last November, electricity costs in Baltimore were 8.3 percent above the national average of 16.8 cents per kWh. Over the prior three Novembers, Baltimore area electricity prices have ranged from 12.5 cents to 17.0 cents. (See chart 2.)

Prices paid by Baltimore area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.810 per therm in November 2024, 21.7 percent above the national average of $1.487 per therm. Utility (piped) gas prices in the Baltimore area the past four years in November have ranged from 4.7 percent to 28.0 percent above the U.S. average. (See chart 3.)

The Baltimore-Columbia-Towson, MD Core Based Statistical Area includes Anne Arundel, Baltimore, Carroll, Harford, Howard, and Queen Anne's Counties and Baltimore City in Maryland.

The Consumer Price Index for December 2024 is scheduled to be released on Wednesday, January 15, 2025, at 8:30 a.m. (ET).

Technical Note

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.

Table 1. Average prices for gasoline, electricity, and utility (piped) gas, the United States and Baltimore-Columbia-Towson, MD, November 2023-November 2024, not seasonally adjusted

Year and month	Gasoline per gallon	Electricity per kWh	Utility (piped) gas per therm
United States	Baltimore area	United States	Baltimore area	United States	Baltimore area
2023
November	$3.623	$3.331	$0.168	$0.182	$1.442	$1.510
December	3.411	3.253	0.169	0.183	1.429	1.571
2024
January	3.353	3.215	0.173	0.180	1.452	1.726
February	3.486	3.394	0.173	0.180	1.465	1.769
March	3.707	3.549	0.174	0.182	1.429	1.766
April	3.907	3.781	0.173	0.183	1.375	1.690
May	3.885	3.723	0.175	0.182	1.369	1.680
June	3.729	3.665	0.178	0.182	1.407	1.740
July	3.747	3.645	0.178	0.184	1.408	1.755
August	3.648	3.458	0.177	0.182	1.401	1.696
September	3.478	3.229	0.178	0.176	1.399	1.699
October	3.412	3.285	0.177	0.182	1.422	1.729
November	3.315	3.194	0.176	0.181	1.487	1.810

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