Import Fuel Prices up 21.9 Percent in June 2020; Largest Monthly Increase on Record

Over the month, prices for U.S. imports increased 1.4 percent in June 2020, after rising 0.8% the previous month. Led by higher fuel prices, the increase in June was the largest since prices rose 1.4 percent from February 2012 to March 2012. Import fuel prices increased 21.9% in June, the largest advance since monthly prices were first published in September 1992.

Prices for import petroleum rose 23.0% in June, after advancing 16.1 percent in May. Natural gas prices increased 6.8% in June, following an increase of 6.4% from April to May. Nonfuel import prices rose 0.3 percent in June, after a 0.1% advance in May.