California Energy Price Data for July 2024

For the 12 months ending May, the California CPI rose 3.7%, notching down from 3.8% in April and March. In the same period, the US CPI notched down to 3.3% from 3.4% in April.

Using the same formula used by Department of Finance to calculate the California CPI, the California Food Away from Home (restaurants and take out) component rose 5.2% in April as costs continued to rise under the state’s new minimum wage, compared to only 1.0% for the US as a whole. The cost of Food at Home has been rising at a shallower rate, but at more than twice as fast as the overall US average.

The July average price per gallon of regular gasoline in California eased 14 cents from June to $4.71. The California regulatory and tax premium above the average for the US other than California ($3.41) continued easing to $1.29, a 37.8% difference.

In July, California had the highest gasoline price among the contiguous states and DC. Californians paid $1.73 a gallon more than consumers in Mississippi, the state with the lowest price.

In July, California Energy Commission data indicates that $1.40 (31.4%) of the price of a gallon of regular gasoline was paid to cover state, local, and federal taxes and fees.

The July average price per gallon of diesel in California eased 6 cents from June to $5.07. The California regulatory and tax premium above the average for the US other than California ($3.75) eased to $1.32, a 35.2% difference.

In July, California had the highest diesel price among the contiguous states and DC.

The cost premium above the US (other than California) average price for regular gasoline ranged from $1.20 in the Orange County Region (average July price of $4.61), to $1.57 in Central Sierra Region (average July price of $4.98).

California average Residential Price for the 12 months ended May 2024 was 30.46 cents/kWh, 99.3% higher than the US average of 15.28 cents/kWh for all states other than California. California’s residential prices again were the highest among the contiguous states and DC.

For the 12 months ended May 2024, the average annual Residential electricity bill in California was $1,758, or 76.9% higher ($764) 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 21.6% ($295).

In 2010, California had the 9th lowest residential electricity bill among the contiguous states and DC. In the latest data, it had the 14th 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.

For the 12 months ended May 2024, California’s higher electricity prices translated into Residential ratepayers paying $12.3 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 $15.6 billion more.

California average Commercial Price for the 12 months ended May 2024 was 24.61 cents/kWh, 108.9% higher than the US average of 11.78 cents/kWh for all states other than California. California’s commercial prices again were the highest among the contiguous states and DC.

California average Industrial Price for the 12 months ended May 2024 was 19.78 cents/kWh, 160.6% higher than the US average of 7.59 cents/kWh for all states other than California. California’s industrial prices again were the highest among the contiguous states and DC.

For the 12 months ended May 2024, California’s higher electricity prices translated into Commercial & Industrial ratepayers paying $19.7 billion more than ratepayers elsewhere in the US using the same amount of energy. Compared to the lowest rate states, Commercial & Industrial ratepayers paid $25.3 billion more.