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Posted May 3, 2016Today in Energy

Declining energy prices lower the cost of living ›

Since June 2014, decreases in crude oil and natural gas prices have reduced household energy costs. According to initial figures from the U.S. Bureau of Labor Statistics (BLS), the chained consumer price index for urban consumers (C-CPI-U) decreased by 1.2% from June 2014 to February 2016. Lower energy prices had a significant impact on this decrease in spite of increases in the food and shelter components of the overall index, which represent larger shares of household expenses. More


Source: EIA, based on Bureau of Labor Statistics

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Data Highlights

Retail gasoline price

5/2/2016: $2.240/gal

up$0.078 from week earlier
down$0.424 from year earlier

Retail diesel price

5/2/2016: $2.266/gal

up$0.068 from week earlier
down$0.588 from year earlier

WTI crude oil futures price

4/29/2016: $45.92/barrels

up$2.19 from week earlier
down$13.71 from year earlier

Natural gas futures price

4/29/2016: $2.178/MMBtu

up$0.038 from week earlier
down$0.573 from year earlier

Weekly coal production

4/23/2016: 10.332 million tons

down0.755 million tons from week earlier
down6.529 million tons from year earlier

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