Web Version [link removed] | Update Preferences [link removed] [link removed] California Energy Price Data
January 2024
Below are the monthly updates from the most current January 2024 fuel price data (GasBuddy.com) and November 2023 electricity and natural gas price data (US Energy Information Administration). To view additional data and analysis related to the California economy visit our website at www.centerforjobs.org/ca. [[link removed]]
California’s energy costs rankings showed deterioration in two categories, while fuel and commercial electricity costs remained the highest among the contiguous states and DC.
The high cost premium imposed by California regulations and taxes on fuel costs dipped, in the case of gasoline, to 52.8% higher than the average for all other states from 56.4% last month. California average prices in January dropped 11 cents and only 1 cent in the other states. In the latest data from CSAA [[link removed]] as of February 5, gasoline prices were up 1 cent in California and up 5 cents in the total US average. Crude prices fell $6 last week erasing the previous rise. Nationally, both crude and product inventories strengthened in
Inflation Remains Level 3.4% Annual Increase in
California CPI
For the 12 months ending November, the California CPI rose 3.4%, up from 3.2% in October. In the same period, the US CPI dipped to 3.1% from 3.2% in October.
California vs. Rest of US Fuel Price Gap at 52.8% $1.58 Price Per Gallon
Above Other States
(CA Average)
The January average price per gallon of regular gasoline in California eased 11 cents from December to $4.56. The California premium above the average for the US other than California ($2.98) eased to $1.58, a 52.8% difference.
1st Ranked by
Price
In January, California had the highest gasoline price among the contiguous states and DC. Californians paid $1.94 a gallon more than consumers in Oklahoma, the state with the lowest price.
California vs. Rest of US: Diesel Price $1.50 Price Per Gallon
Above Other States
(CA Average)
The January average price per gallon of diesel in California eased 21 cents from December to $5.32. The California premium above the average for the US other than California ($3.83) eased to $1.50, a 39.1% difference.
1st Ranked by
Price
In January, California had the highest diesel price among the contiguous states and DC.
Range Between Highest and Lowest Prices by Region $1.75 Price Per Gallon
Above Other States
(Central Coast Region)
The cost premium above the US (other than California) average price for regular gasoline ranged from $1.49 in the Central Valley Region (average January price of $4.47), to $1.75 in Central Coast Region (average January price of $4.73).
Highest/Lowest Fuel Prices by Legislative District California Residential Electricity Price 88.8% Above Average for
Rest of US
California average Residential Price for the 12 months ended November 2023 was 28.59 cents/kWh, 88.8% higher than the US average of 15.14 cents/kWh for all states other than California. California's residential prices were the 4th highest among the contiguous states and DC.
California Residential Electric Bill 18th Ranked by
Cost
For the 12 months ended November 2023, the average annual Residential electricity bill in California was $1,695, or 70.5% higher ($701) than the comparable bill in 2010 (the year the AB 32 implementation began with the Early Action items). In this same period, the average US (less CA) electricity bill for all the other states grew only 21.1% ($288).
In 2010, California had the 9th lowest residential electricity bill among the contiguous states and DC. In the latest data, California tied with Tennessee for the 18th highest.
Residential bills, however, vary widely by region. Transforming the 2022 data recently released by the Energy Commission, estimated annual household usage is as much as 82% higher in the interior regions compared to the milder climate coastal areas, and substantially higher when comparing across counties.
$11.2b Premium Above
Average Price in
Other States
For the 12 months ended November 2023, California's higher electricity prices translated into Residential ratepayers paying $11.2 billion more than the average ratepayers elsewhere in the US using the same amount of energy. Compared to the lowest cost state, California households paid $14.7 billion more.
California Commercial Electricity Price 102.2% Above Average for
Rest of US
California average Commercial Price for the 12 months ended November 2023 was 23.82 cents/kWh, 102.2% higher than the US average of 11.78 cents/kWh for all states other than California. California's commercial prices were the highest among the contiguous states and DC.
California Industrial Electricity Price 143.5% Above Average for
Rest of US
California average Industrial Price for the 12 months ended November 2023 was 18.82 cents/kWh, 143.5% higher than the US average of 7.73 cents/kWh for all states other than California. California's industrial prices were the 2nd highest among the contiguous states and DC.
$18.2b Premium Above
Average Price in
Other States
For the 12 months ended November 2023, California's higher electricity prices translated into Commercial & Industrial ratepayers paying $18.2 billion more than ratepayers elsewhere in the US using the same amount of energy. Compared to the lowest rate states, Commercial & Industrial ratepayers paid $23.4 billion more.
California Natural Gas Prices
Average prices ($ per thousand cubic feet; 12-month moving average) for the 12 months ended November 2023 and changes from the previous 12-month period for each end user:
Note: All data sources, methodologies and historical data series available at [[link removed]]
View this Report Online [[link removed]] The California Center for Jobs and the Economy provides an objective and definitive source of information pertaining to job creation and economic trends in California. [[link removed]] Contact 1301 I Street Sacramento, CA 95814 916.553.4093 If you no longer wish to receive these emails, select here to unsubscribe. [link removed]
