Below are the monthly updates from the most current December 2023 fuel price data (GasBuddy.com) and October 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.
Overall, California’s energy price rankings had some minor improvements, but they remain at or near the highest among the contiguous states. Average commercial electricity, gasoline, and diesel prices were again the highest, and industrial electricity the second highest.
While remaining 56% higher than the average paid in the other states, gasoline prices again saw a drop, with the average California gasoline price down 30 cents from November, and the US average for the other states and DC down 18 cents. In the latest data from CSAA as of January 5, gasoline prices were up 3 cents in California as the result of issues at 3 of the refineries affecting the state’s regulatorily-isolated supply, but down another 11 cents in the overall US average.
Inflation Remains Level
California CPI
For the 12 months ending October, the California CPI rose 3.2%, down from 3.6% in September. In the same period, the US CPI rose 3.2%, down from 3.7% in September.
California vs. Rest of US Diesel Price
Above Other
States (CA Average)
The December average price per gallon of diesel in California eased 37 cents from November to $5.53. The California premium above the average for the US other than California ($3.93) eased to $1.60, a 40.6% difference.
price
In December, California had the highest diesel price among the contiguous states and DC.
Range Between Highest and Lowest Prices by Region
Above Average in
Other States
(Central Coast Region)
The cost premium above the US (other than California) average price for regular gasoline ranged from $1.55 in the Upstate California Region (average December price of $4.55), to $1.88 in Central Coast Region (average December price of $4.88).
Highest/Lowest Fuel Prices by Legislative District
California Residential Electricity Price
for Rest of US
California average Residential Price for the 12 months ended October 2023 was 28.29 cents/kWh, 87.2% higher than the US average of 15.11 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
For the 12 months ended October 2023, the average annual Residential electricity bill in California was $1,681, or 69.1% higher ($687) 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 21.0% ($286).
In 2010, California had the 9th lowest residential electricity bill among the contiguous states and DC. In the latest data, it had the 19th 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.
Average Price in
Other States
For the 12 months ended October 2023, California’s higher electricity prices translated into Residential ratepayers paying $11.0 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 $14.6 billion more.
California Commercial Electricity Price
Price in Other
States
California average Commercial Price for the 12 months ended October 2023 was 23.74 cents/kWh, 101.7% higher than the US average of 11.77 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
for Rest of US
California average Industrial Price for the 12 months ended October 2023 was 18.66 cents/kWh, 140.5% higher than the US average of 7.76 cents/kWh for all states other than California. California’s industrial prices were the 2nd highest among the contiguous states and DC.
US Average Price
For the 12 months ended October 2023, California’s higher electricity prices translated into Commercial & Industrial ratepayers paying $18.0 billion more than ratepayers elsewhere in the US using the same amount of energy. Compared to the lowest rate states, Commercial & Industrial ratepayers paid $23.0 billion more.
California Natural Gas Prices
Average prices ($ per thousand cubic feet; 12-month moving average) for the 12 months ended September 2023 and changes from the previous 12-month period for each end user: