Reality Index

Category

Energy & utilities.

What families have paid at the pump and the meter, over 45 years, with the post-2020 spike that put energy back on the front page.

Energy is the most volatile category in the Reality Index. Gasoline tracks oil prices, which respond to geopolitics, OPEC decisions, and US shale production. Electricity tracks regulated utility rates and fuel input costs. Over 45 years, the energy composite has tracked CPI All Items closely (3.09× vs 3.91×) — but the path has been far choppier than CPI.

Within the category, the story splits: gasoline has actually underperformed inflation in the long run, while electricity is roughly in line. The post-2020 spike in both is the most dramatic move in the energy data since the 1970s oil shocks.

Energy composite 1980 → 2025
3.09×
$100 in 1980 → $308 today
CPI All Items 1980 → 2025
3.91×
$100 in 1980 → $390 today
Energy composite ran
21.0%
slower than CPI over 45 years
Energy composite vs CPI, 1980 → 2025
Equal-weighted composite of category items · 1980 = 100
01002003004001001980198519901995200020052010201520202025Energy composite309CPI All Items391
Energy composite (Reality Index) CPI All Items (BLS official)

Individual items in this category

Each card below links to the full chart page for that item — including retail dollar series, BLS CPI subindex for that category, and the long-history backstop where available. Multiples shown are 1980-anchored unless the underlying data series doesn't extend that far back.

Gasoline

per gallon

2.81× 1980–2023

Electricity

per kWh

3.09× 1980–2025

Methodology notes

Composite construction. Equal-weighted average of gasoline (retail per-gallon, EIA Monthly Energy Review) and electricity (residential per-kWh, BLS Average Price Data). Indexed to 1980 = 100.

What's not in this composite. The headline Reality Index utilities bucket also includes natural gas (BLS subindex) and water/sewer (BLS subindex), neither of which has independent retail dollar data we can use here. For the headline calculation, both are weighted within the utilities bucket per BLS CES Relative Importance.

Long-history note. Gasoline data extends to 1950 in the underlying EIA series (see the gasoline chart for the full 75-year view). Electricity starts in 1979 in BLS APU. The 1980-anchored view above is what the headline rate uses; the individual chart pages show fuller history.