Description of the Indicator
This indicator measures the trends for average energy prices of natural gas, oil, propane, and electricity. UGI Utilities provided data.
Why is it important?
Energy price trends affect household budgets and businesses. Monitoring this metric enhances understanding of the fluctuating energy market. Households and businesses may refer to these trends and adjust their energy consumption and budgets accordingly.
How is the region performing?
Natural gas prices in Pennsylvania decreased 17.1 percent from 2023 to 2024, and electricity costs increased marginally by 0.1 percent during that period. Natural gas prices have remained the lowest among the four types of fuel examined. Oil and propane prices decreased by 21.3 percent and 2.1 percent, respectively, from 2023 to 2024. Electricity was by far the most expensive option in 2024 ($50.44 per unit), followed by propane at $31.39.