Tuesday, January 27, 2015
Gasoline prices averaged $2.601 a gallon in the Cleveland-Akron-Lorain area in December 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that area gasoline prices were down 61 cents compared to December 2013 when they averaged $3.211 per gallon. Cleveland area households paid an average of 12.6 cents per kilowatt hour (kWh) of electricity in December 2014, comparable to the12.4 cents per kWh paid in December 2013. Utility (piped) gas averaged 75.3 cents per therm in December, up from its average price of 69.9 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.601 a gallon, costs for gasoline in the Cleveland area were comparable to the national average of $2.618 in December 2014. Average gasoline costs in Cleveland had been lower by 5.3 or more cents, compared to the U.S. average for the previous four Decembers (2010-2013). (See chart 1.)
The 12.6 cents per kWh Cleveland households paid for electricity in December 2014 was 6.7 percent less than the nationwide average of 13.5 cents during this same period. A year earlier, electricity costs in the Cleveland area, at 12.4 cents per kWh, were 5.3 percent lower than the national average. Electricity prices in the Cleveland area have been lower by 4.7 percent or more than the national average during the past four Decembers (2011-2014). (See chart 2.)
Prices paid by Cleveland area consumers for utility (piped) gas, commonly referred to as natural gas, at 75.3 cents per therm, were 29.0 percent below the national average of $1.060 per therm in December 2014. A year earlier, area consumers paid 30.0 percent less per therm for natural gas compared to the nation. Utility (piped) gas prices in the Cleveland area have been lower than the national average in each of the past five Decembers, ranging from 17.9 percent below in December 2010 to December 2013’s 30.0 percent differential. (See chart 3.)
The Cleveland-Akron Consolidated Metropolitan Statistical Area (CMSA) consists of Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Medina, Portage and Summit Counties in Ohio.
Historical average energy prices for the U.S. and select metropolitan areas are available at www.bls.gov/regions/midwest/data/AverageEnergyPrices_SelectedAreas_Table.htm.
The Consumer Price Index for January 2015 is scheduled to be released on Thursday, February 26, 2015, at 8:30 a.m. (ET).
Average prices are estimated from Consumer Price Index (CPI) data for selected commodity series to support the research and analytic needs of CPI data users. Average prices for electricity, utility (piped) gas, and gasoline are published monthly for the U.S. city average, the 4 regions, the 3 population size classes, 10 region/size-class cross-classifications, and the 14 largest local index areas. For electricity, average prices per kilowatt-hour (kWh) are published. For utility (piped) gas, average prices per therm are published. For gasoline, the average price per gallon is published. Average prices for commonly available grades of gasoline are published as well as the average price across all grades.
All eligible prices are converted to a price per normalized quantity. These prices are then used to estimate a price for a defined fixed quantity. The average price per kilowatt-hour represents the total bill divided by the kilowatt-hour usage. The total bill is the sum of all items applicable to all consumers appearing on an electricity bill including, but not limited to, variable rates per kWh, fixed costs, taxes, surcharges, and credits. This calculation also applies to the average price per therm for utility (piped) gas.
Information in this release will be made available to sensory impaired individuals upon request. Voice phone: (202) 691-5200; Federal Relay Service: (800) 877-8339.
|Year and month||Gasoline per gallon||Electricity per kWh||Utility (piped) gas per therm|
|Cleveland area||United States||Cleveland area||United States||Cleveland area||United States|
Last Modified Date: Tuesday, January 27, 2015