Section 9. Energy Prices - Statistical Data Included

Monthly Energy Review, Sept, 2000

Crude Oil. The average price of domestic crude oil purchased at the wellhead was $27.88 per barrel in June 2000, 94 percent above the level in June 1999. The refiner acquisition cost of imported crude oil in June 2000 was $28.95 per barrel, 82 percent higher than the June 1999 level. The refiner acquisition cost of domestic crude oil in June 2000 was $29.58, 81 percent more than the June 1999 average.

Motor Gasoline. The national city average retail price of unleaded regular gasoline at all types of stations was $1.59 per gallon in July 2000, 34 percent higher than the price in July 1999. The price of unleaded premium gasoline averaged $1.77 per gallon in July 2000, 29 percent higher than the price in July 1999.

Residual Fuel Oil. The average price, excluding taxes, of residual fuel oil sold to end users in June 2000 was 62 cents per gallon, 8 percent higher than the previous month's price and 80 percent above the June 1999 price. The average resale price, excluding taxes, of residual fuel oil in June 2000 was 60 cents per gallon, 10 percent above the previous month's price and 87 percent above the price 1 year earlier.

Aviation Fuel. The average price, excluding taxes, of aviation gasoline sold to end users in June 2000 was $1.44 per gallon, 7 percent higher than the previous month's price and 39 percent higher than the June 1999 price. The average price, excluding taxes, of kerosene-type jet fuel sold to end users in June 2000 was 80 cents per gallon, 2 percent higher than the previous month's average price and 58 percent higher than the June 1999 average price.

No. 2 Distillate Fuel Oil. The June 2000 national average price, excluding taxes, of heating oil sold to residential customers was $1.16 per gallon, 1 percent lower than the previous month's price but 44 percent higher than the June 1999 price. The average price of No. 2 fuel oil sold to all end users was 85 cents per gallon in June 2000, 2 percent higher than in May 2000.

Electricity. The average price of electricity sold by electric utilities to all ultimate consumers in the United States in June 2000 was 6.90 cents per kilowatthour, 2 percent higher than the June 1999 mean price. The price of electricity sold to residential consumers in June 2000 averaged 8.51 cents per kilowatthour, 1 percent higher than the June 1999 price. The price of electricity sold to commercial consumers averaged 7.45 cents per kilowatthour in June 2000, 2 percent higher than the June 1999 price. The price of electricity sold to other consumers was 6.35 cents per kilowatthour, 4 percent lower than the June 1999 price. The price of electricity sold to industrial users in June 2000 averaged 4.59 cents per kilowatthour, 2 percent higher than the price 1 year earlier.

Beginning with January 1986, new series of national average price estimates were based on a statistically derived sample of both publicly and privately owned electric utilities. Previously, average price estimates were derived from selected privately owned electric utilities and were not national averages.

Natural Gas. The estimated average wellhead price of natural gas for July 2000 was $3.49 per thousand cubic feet, 69 percent higher than the July 1999 price.

The average price of natural gas delivered to electric utility plants was $3.22 per thousand cubic feet in April 2000 (latest date for which data are available), 41 percent higher than the April 1999 price. The average price of natural gas used by residential consumers in May 2000 was $7.94 per thousand cubic feet, 12 percent higher than the May 1999 price. The average price of natural gas used by commercial consumers in May 2000 was $5.32 per thousand cubic feet, 4 percent higher than the May 1999 price. The average price of natural gas used by industrial consumers in May 2000 was $3.86 per thousand cubic feet, 46 percent above the May 1999 price.

[Figures 9.1-9.4 ILLUSTRATION OMITTED]

Energy Prices Notes

1. The average domestic first purchase price represents the average price at which all domestic crude oil is purchased. Prior to February 1976, the price represented an estimate of the average of posted prices; beginning with February 1976, the price represents an average of actual first purchase prices. The data series was previously called "Actual Domestic Wellhead Price."

2. F.O.B. literally means "Free on Board." It denotes a transaction whereby the seller makes the product available with an agreement on a given port at a given price; it is the responsibility of the buyer to arrange for the transportation and insurance.

3. The landed cost of imported crude oil from selected countries does not represent the total cost of all imported crude. Prior to April 1975, imported crude costs to U.S. company-owned refineries in the Caribbean were not included in the landed cost, and costs of crude oil from countries that export only small amounts to the United States were also excluded. Beginning in March 1975, however, coverage was expanded to include U.S. company-owned refineries in the Caribbean. Landed costs do not include supplemental fees.