02/26/2024

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California Energy Price Data for January 2024

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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.

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.

Energy Price (12-month moving average; fuels monthly) Rank Among Contiguous States
Current Month Previous Month
Residential Electricity Rate 4th 4th
Average Residential Electricity Bill 18th 19th
Commercial Electricity Rate 1st 1st
Industrial Electricity Rate 2nd 2nd
Residential Natural Gas Rate 8th 8th
Commercial Natural Gas Rate 5th 6th
Industrial Natural Gas Rate 6th 6th
Gasoline 1st 1st
Diesel 1st 1st

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 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 the latest data from US Energy Information Administration, with product inventories 8.3% higher than a year ago.

Inflation Rises

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 3.1% from 3.2% in October.

California vs. Rest of US Fuel Price Gap at 52.8% Premium

$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:

January 2024: Average Price ($ per gallon) of Regular Gasoline
Highest Lowest
CD30 Schiff (D) $4.80 CD25 Ruiz (D) $4.43
CD02 Huffman (D) $4.77 CD21 Costa (D) $4.43
CD11 Pelosi (D) $4.77 CD33 Aguilar (D) $4.42
CD32 Sherman (D) $4.75 CD01 LaMalfa (R) $4.36
CD15 Mullin (D) $4.74 CD09 Harder (D) $4.33
<br /> <br /> <br /> <br />
SD24 Allen (D) $4.77 SD31 Roth (D) $4.46
SD11 Wiener (D) $4.77 SD06 Niello (R) $4.46
SD39 Atkins (D) $4.76 SD29 Newman (D) $4.45
SD02 McGuire (D) $4.74 SD08 Ashby (D) $4.43
SD26 Durazo (D) $4.73 SD05 Eggman (D) $4.32
<br /> <br /> <br /> <br />
AD51 Zbur (D) $4.87 AD47 Wallis (R) $4.39
AD17 Haney (D) $4.83 AD10 Nguyen (D) $4.39
AD30 Addis (D) $4.80 AD22 Alanis (R) $4.30
AD44 Friedman (D) $4.79 AD03 Gallagher (R) $4.30
AD77 Boerner Horvath (D) $4.79 AD13 Villapudua (D) $4.28

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 Electricity 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:

Residential Commercial Industrial
CA, November 2023 $19.68 $15.25 $12.35
CA, November 2022 $19.53 $15.67 $13.38
Change 0.8% -2.7% -7.7%
<br /> <br /> <br /> <br />
Rest of US, November 2023 $12.37 $9.08 $3.65
Rest of US, November 2022 $14.05 $10.90 $7.08
Change -12.0% -16.7% -48.4%
<br /> <br /> <br /> <br />
CA premium over Rest of US, November 2023 59.1% 68.0% 238.4%
CA premium over Rest of US, November 2022 39.0% 43.8% 89.0%