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US Energy Prices Rise 17.9% Over Year as Fuel Oil Jumps 54.3%, CPI Data Show

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US energy prices climbed 3.8% in April and remained 17.9% higher than a year earlier, the Bureau of Labor Statistics said in the Consumer Price Index report on Tuesday.

Energy commodities prices increased 5.6% in April after surging 21.3% in March, while prices climbed 29.2% over the year, driven by higher gasoline and fuel oil costs, according to the report.

Gasoline prices climbed 5.4% over the month in April after surging 21.2% in March, while prices increased 28.4% over the year, according to the report.

Fuel oil prices increased 5.8% in April after surging 30.7% in March, while prices jumped 54.3% over the year, the data showed.

Energy services prices rose 1.6% in April after increasing 0.4% in March, while prices moved 5.4% higher over the year, supported by rising electricity costs, the Bureau said.

The electricity index advanced 2.1% in April and increased 6.1% over the year, according to data from the Bureau of Labor Statistics.

Natural gas prices provided limited relief as the index slipped 0.1% over the month, although prices still remained 3% above year-ago levels, according to the report.

The energy index posted a slower monthly increase compared with March, when prices jumped 10.9% following sharp gains in gasoline and fuel oil costs.

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