Energy costs across the United States vary significantly, with Wyoming ranked as the most expensive state for energy in 2024 and New Mexico as the most affordable, according to a study by WalletHub.
The analysis factored in electricity, gas, heating oil, and motor fuel consumption, resulting in a wide range of energy expenses among the 50 states.
Wyoming’s average energy cost is the highest in the nation at $1,591 annually, driven by its harsh winters and high consumption of gas and residential heating oil. In comparison, North Dakota ranks second with an average energy cost of $840, largely due to the high price of heating oil. Iowa follows in third place at $798. Other states with elevated energy costs include Montana ($787), Minnesota ($782), and Massachusetts ($759).
In contrast, New Mexico boasts the lowest average energy cost at just $376 per year. Other states with notably low energy expenses include Nebraska ($453), Texas ($437), Kansas ($436), and Arizona ($400).
Here is a snapshot of the energy cost rankings:
States with the Highest Energy Costs:
- Wyoming: $1,591
- North Dakota: $840
- Iowa: $798
- Montana: $787
- Minnesota: $782
States with the Lowest Energy Costs:
- New Mexico: $376
- Arizona: $400
- Kansas: $436
- Texas: $437
- Nebraska: $453
Wyoming’s high ranking reflects the impact of extreme winter temperatures and reliance on costly heating methods. Meanwhile, New Mexico’s mild climate and lower energy consumption contribute to its affordability.
With input from Digital Information World.
