New York City gas prices fall below national average for first time in five years, while electricity and natural gas costs rise.

Gas prices in New York City have dropped to $3.188 per gallon in December 2024, a 31.6 cent decrease from the previous year, marking the first time in five years they are below the national average. However, electricity and natural gas prices have risen, with electricity at 27.2 cents per kWh and natural gas at $1.869 per therm, both significantly higher than the national average. Despite fluctuations, the state average for gas remains around $3.17 per gallon, influenced by winter weather and oil prices.

2 months ago
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