Summary
A new analysis shows that gasoline costs more for households than electricity bills across the United States, but the difference varies by state. The Electric Power Research Institute found that last year, on average, U.S. households spent more on gasoline than electricity. The report also forecasts that electricity prices will keep rising, but future technology could potentially lower energy costs.
Key Facts
- On average, U.S. households spent $5,530 on energy expenses last year.
- Out of this, $2,930 was for gasoline and $1,860 was for electricity.
- Gasoline prices varied significantly across states, while electricity costs were steadier.
- New England and Alaska had the highest energy costs due to colder climates.
- Utah had the lowest energy costs due to its mild climate and low energy prices.
- Electricity prices are expected to rise to 17 cents per kilowatt-hour in 2025 and 18 cents in 2026.
- Future technology like electric vehicles could reduce household energy costs by up to 36% by 2050.
- Rising power bills may play a role in the 2026 midterm elections as U.S. electricity demand increases.
