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The Best and Worst States for Energy Costs
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Summer time means a bump in energy consumption, as we crank up the air conditioner or hit the open road. The precise price tag of the energy we use can vary greatly by state.
When most of us think of energy costs — at least in the summer – we think about gas prices. And this summer, gas prices have been a “good news” story.
As of today, AAA says the average price of a gallon of gasoline in the US is about $2.75. By comparison, the gas price on July 14 of last year was $3.61 per gallon. However, AAA notes that the low overall gas prices mask a fair amount of volatility. For instance, a gallon of gas in California is $3.87.
Of course, summer brings other energy costs. For one thing, the recent heat wave has caused many Americans to turn up their air conditioners to full blast, something that will have ramifications when their next energy bill comes in the mail.
With all that as a backdrop, the website WalletHub recently crunched state-level umbers in a variety of energy categories, including total monthly motor fuel costs, electricity costs, natural gas costs, and home heating costs. Based on that information, they came up with a ranking of all 50 states, plus the District of Columbia, on energy affordability.
Below, we present the 5 places with the least expensive energy costs overall, followed by the 5 states with the most expensive energy costs. Our list includes each state's rank in terms of gas and electricity costs, though those are only two of eight metrics used in WalletHubs calculation. Note that the list includes Washington, DC, so the lowest rank in any given category is 51, not 50.
LEAST EXPENSIVE ENERGY STATES
Total Monthly Energy Cost: $268
Electricity Cost Rank: 36
Motor Fuel Cost Rank: 11
LEAST EXPENSIVE ENERGY STATES
4. Oregon
Total Monthly Energy Cost: $261
Electricity Cost Rank: 11
Motor Fuel Cost Rank: 23
LEAST EXPENSIVE ENERGY STATES
3. Washington
Total Monthly Energy Cost: $245
Electricity Cost Rank: 8
Motor Fuel Cost Rank: 13
LEAST EXPENSIVE ENERGY STATES
2. Colorado
Total Monthly Energy Cost: $244
Electricity Cost Rank: 5
Motor Fuel Cost Rank: 6
LEAST EXPENSIVE ENERGY STATES
1. District of Columbia
Total Monthly Energy Cost: $223
Electricity Cost Rank: 1
Motor Fuel Cost Rank: 1
Continue reading for the most expensive energy states.
MOST EXPENSIVE ENERGY STATES
5. Rhode Island
Total Monthly Energy Cost: $346
Electricity Cost Rank: 7
Motor Fuel Cost Rank: 2
*Note: Rhode Island scores well in the two categories broken out above. The state’s poor overall ranking is due to high home heating and natural gas costs.
MOST EXPENSIVE ENERGY STATES
4. Alaska
Total Monthly Energy Cost: $348
Electricity Cost Rank: 29
Motor Fuel Cost Rank: 5
MOST EXPENSIVE ENERGY STATES
3. Massachusetts
Total Monthly Energy Cost: $352
Electricity Cost Rank: 14
Motor Fuel Cost Rank: 7
MOST EXPENSIVE ENERGY STATES
2. Wyoming
Total Monthly Energy Cost: $355
Electricity Cost Rank: 13
Motor Fuel Cost Rank: 51
MOST EXPENSIVE ENERGY STATES
1. Connecticut
Total Monthly Energy Cost: $410
Electricity Cost Rank: 43
Motor Fuel Cost Rank: 14
To read WalletHub’s full list, click here.
