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BusinessJuly 24, 2023

Missouri ranks as the 38th most inexpensive state when it comes to home energy prices, according to personal finance website WalletHub, which has released its 2023 survey of energy expenses in all U.S. states and the nation's capital. WalletHub reported fully one quarter of American households have a "high energy burden" -- defined as spending in excess of 6% of income on utility bills...

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Missouri ranks as the 38th most inexpensive state when it comes to home energy prices, according to personal finance website WalletHub, which has released its 2023 survey of energy expenses in all U.S. states and the nation's capital.

WalletHub reported fully one quarter of American households have a "high energy burden" — defined as spending in excess of 6% of income on utility bills.

The website compared average monthly bills accounting for the following residential energy types: electricity, natural gas, motor fuel and home heating oil

The five most expensive states, in descending order from highest bills, are Wyoming, North Dakota, Alaska, Connecticut and Massachusetts.

The least expensive quintet, in descending order from higher to lower, are Kansas, Nebraska, Texas, New Mexico and District of Columbia.

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Wyoming residents average $845 monthly while in D.C., the cost is $274.

Much of the disparity in the previous data point is because of a wide variance in motor fuel expense.

D.C. has the lowest average monthly motor fuel consumption per driver, 20.83 gallons, while Wyoming boasts the highest at 84.49 gallons.

Of note

Last summer was the third hottest on record for the U.S. This year is predicted to bring more sweltering heat to many parts of the country. Coupled with high inflation, this heat wave may eat into many Americans' wallets, WalletHub analysts said.

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