Skip nav to main content.

Import Prices Up On Higher Fuel Prices

The rising price at the pump is having an effect on what Americans pay for…

  • May 2, 2019

The rising price at the pump is having an effect on what Americans pay for imported goods.

U.S. import prices increased 0.6 percent in March, the U.S. Bureau of Labor Statistics reports, following a 1.0-percent rise in February. Both the March and February advances were driven by higher fuel prices.

Import fuel prices rose 6.4 percent in March after increasing 9.7 percent in February and 4.4 percent in January. Petroleum prices rose 4.7 percent in March, continuing the trend of the previous 2 months, and natural gas prices rose 42.3 percent following a 12.9-percent increase in February.

Fuel prices rose 7.3 percent over the past 12 months. The price index for petroleum increased 3.9 percent for the year ended in March, and prices for natural gas rose 91.3 percent over the same period.

The 12-month increase in natural gas prices was the largest advance since the index rose 99.9 percent in March 2014.

The price index for nonfuel imports actually decreased 0.2 percent in March, after rising 0.2 percent in February.

In March, falling prices for capital goods, consumer goods, and nonfuel industrial supplies and materials more than offset an increase in the prices for foods, feeds, and beverages.