Electricity is also a more stable energy source in terms of costs. While prices can fluctuate in the short term, they do so within a range of a few cents. Gasoline prices, on the other hand, can quickly surge a dollar or more. For example, the national average for a gallon of gas rose to roughly $5 last summer, a $1 increase from that spring and $2 jump from summer 2021.  

Electricity prices’ stability is due to the fact that electricity in the United States is generated from a variety of energy sources. If one of these sources suddenly became unavailable, electric prices would remain fairly stable as utility providers could use the other sources to make up the difference. This stands in direct opposition to gas, which is derived exclusively from crude oil. If oil production is disrupted anywhere in the world, it will result in higher gas prices here at home. 

Furthermore, it stands to reason that electricity prices will be more affordable in the long-term. Part of the cost of electricity goes toward building and enhancing infrastructure. In today’s world, this means increasing renewable energy sources and enhancing electrical grid efficiency. As these advancements are made, electricity prices should stabilize, if not decrease.