Section 9. Energy prices

Monthly Energy Review, April, 2005

Crude Oil. The average price of domestic crude oil at the wellhead was $40.24 per barrel in January 2005, 33 percent above the level of January 2004. The refiner acquisition cost of imported crude oil in January 2005 was $37.98 per barrel, 26 percent higher than the January 2004 level. The average cost of domestic crude oil in January 2005 was $41.50, 30 percent more than the January 2004 average.

Motor Gasoline. The national city average retail price of unleaded regular gasoline at all types of stations was $1.92 per gallon in February 2005, 15 percent higher than the price in February 2004. The price of unleaded premium gasoline averaged $2.11 in February 2005, 13 percent higher than the price in February 2004.

Residual Fuel Oil. The average price, excluding taxes, of residual fuel oil sold to end users in January 2005 was 77 cents per gallon, 3 percent higher than the previous month's price and 8 percent higher than the January 2004 average. The average resale price, excluding taxes, of residual fuel oil in January 2005 was 71 cents, 13 percent higher than the December 2004 price and 2 percent higher than the price 1 year earlier.

Jet Fuel. The average price, excluding taxes, of kerosene-type jet fuel sold to end users in January 2005 was $1.31 per gallon, 2 percent lower than the previous month's average price but 31 percent more than the January 2004 average price.

No. 2 Distillate Fuel Oil. The January 2005 national average price, excluding taxes, of heating oil sold to residential customers was $1.81 per gallon, 1 percent higher than the December 2004 price and 28 percent higher than the January 2004 price. The average price of No. 2 fuel oil sold to all end users was $1.39 per gallon in January 2005, 5 percent higher than the December 2004 price and 35 percent higher than the price 1 year earlier.

Electricity. The average retail price of electricity sold to all ultimate consumers in the United States in January 2005 (latest month for which data are available) was 7.40 cents per kilowatthour, 3 percent higher than the average price in January 2004. The price of electricity sold to residential consumers in January 2005 averaged 8.49 cents per kilowatthour, 3 percent higher than the January 2004 price. The price of electricity sold to commercial consumers averaged 7.94 cents per kilowatthour in January 2005, 3 percent higher than the January 2004 price. The price of electricity sold to transportation users in January 2005 averaged 6.91 cents per kilowatthour, 13 percent higher than the January 2004 price. The price of electricity sold to industrial users in January 2005 averaged 5.08 cents per kilowatthour, 4 percent higher than the price 1 year earlier.

Natural Gas. The average wellhead price of natural gas for January 2005 (latest month for which data are available) was estimated as $5.52 per thousand cubic feet, slightly lower than the January 2004 price.

The average price of natural gas delivered to the electric power sector was $6.85 per thousand cubic feet in December 2004, 21 percent higher than the December 2003 price. The average price of natural gas used by residential consumers in January 2005 was $11.10 per thousand cubic feet, 14 percent higher than the January 2004 price. The average price of natural gas used by commercial consumers in January 2005 was $10.18 per thousand cubic feet, 14 percent higher than the January 2004 price. The average price of natural gas used by industrial consumers in January 2005 was $7.03 per thousand cubic feet, 6 percent above the January 2004 price.

[FIGURE 9.1 OMITTED]