PROVIDENCE – Rhode Island is the 15th most expensive state when it comes to household energy costs in the U.S., according to a report by WalletHub published Wednesday.
WalletHub, a personal finance website with a focus on reviews for financial advisers, compared the average monthly energy bills of households in each of the 50 states and the District of Columbia using a formula that accounts for the following residential energy types: electricity, natural gas, motor fuel and home heating oil. Data to create the rankings was collected from the U.S. Census Bureau, U.S. Energy Information Administration, Federal Highway Administration, American Automobile Association, National Highway Traffic Safety Administration and the U.S. Environmental Protection Agency.
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Data showed that the Ocean State spends an average of $526 per month on energy, 15th highest in the nation. Rhode Island electricity costs were ranked 26th at $136 per month, natural gas costs were seventh at $109 per month, motor fuel was 49th at $112 per month, and home heating oil was 10th at $168 per month.
Wyoming was the most expensive state in the nation for energy costs with a total monthly cost of $845. That state’s electricity costs were 42nd in the nation at $117 per month, natural gas costs were 24th at $78 per month, motor fuel was most expensive in the country at $287 per month and home heating was also most expensive at $362 per month.
North Dakota was second, followed by Alaska, Connecticut and Massachusetts. The Bay State spends $589 monthly on energy according to the study. Massachusetts electricity costs were 20th in the nation at $143 per month, natural gas costs were fourth at $116 per month, motor fuel was 41st at $137 per month and home heating oil was fifth at $194 per month.
WalletHub also said Rhode Island was paying the fifth highest electricity prices in the nation while Massachusetts was second in the nation. Hawaii was the most expensive, California was third and Alaska was fourth.
On electricity consumption per customer, Massachusetts and Rhode Island were ranked 47th and 48th respectively.
The District of Columbia had the cheapest energy costs at $274 per month. Average monthly electricity costs there were the cheapest in the nation at $81 as well as average fuel costs at $76 per month. Gas was 17th at $86 and home heating oil was 41st overall at $23.
The full study can be found here.
Thank you, Gina, Dan, and Stefan.