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Monday, February 08, 2016

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Average Energy Prices, Cleveland-Akron-Lorain — December 2015

Gasoline prices averaged $1.950 a gallon in the Cleveland-Akron-Lorain area in December 2015, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that area gasoline prices were down 65.1 cents compared to December 2014 when they averaged $2.601 per gallon. Cleveland area households paid an average of 13.4 cents per kilowatt hour (kWh) of electricity in December 2015, 6.3 percent higher than the 12.6 cents per kWh paid in December 2014. Utility (piped) gas averaged 50.9 cents per therm in December, down from its average price of 75.3 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $1.950 a gallon, prices for gasoline in the Cleveland area were 17.5 cents lower than the national average of $2.125 in December 2015. Over the previous four years (2011-2014) in December, average gasoline prices in Cleveland were lower than the national average, ranging from 1.7 cents to 12.2 cents. (See chart 1.)

 Chart 1.  Average prices for gasoline, Cleveland-Akron-Lorian and the United States, 2011-2015 (as of December)

The 13.4 cents per kWh Cleveland households paid for electricity in December 2015 was comparable to the nationwide average of 13.3 cents during this same period. Electricity costs in the Cleveland area had been lower than the national average in the prior four years (2011-2014) in December, ranging from 4.7 percent to 6.7 percent. (See chart 2.)

 Chart 2.  Average prices for electricity, Cleveland-Akron-Lorain and the United States, 2011-2015 (as of December)

Prices paid by Cleveland area consumers for utility (piped) gas, commonly referred to as natural gas, at 50.9 cents per therm, were 42.9 percent below the national average of 89.2 cents per therm in December 2015. Utility (piped) gas prices in the Cleveland area had been lower than the national average in the prior four years (2011-2014) in December, ranging from 24.7 percent lower in 2011 to 30.0 percent in 2013. (See chart 3.)

 Chart 3.  Average prices for utility (piped) gas, Cleveland-Akron-Lorain and the United States, 2011-2015 (as of December)

The Cleveland-Akron-Lorain, Ohio, Consolidated Metropolitan Statistical Area 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 December 2015 is scheduled to be released on Friday, February 19, 2016.


Technical Note

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.

Table 1. Average prices for gasoline, electricity, and utility (piped) gas, Cleveland-Akron-Lorain and the United States, December 2014 – December 2015, not seasonally adjusted
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

2014

 

December

$2.601 $2.618 $0.126 $0.135 $0.753 $1.060

2015

 

January

2.062 2.170 0.131 0.138 0.774 1.036

February

2.265 2.308 0.135 0.138 0.678 1.007

March

2.420 2.544 0.136 0.136 0.663 0.985

April

2.388 2.545 0.131 0.137 0.653 0.947

May

2.610 2.832 0.131 0.137 0.597 0.930

June

2.821 2.889 0.151 0.143 0.596 0.942

July

2.695 2.893 0.146 0.142 0.620 0.933

August

2.566 2.745 0.146 0.142 0.601 0.932

September

2.345 2.463 0.130 0.141 0.587 0.921

October

2.432 2.357 0.133 0.136 0.566 0.909

November

2.252 2.249 0.131 0.134 0.550 0.903

December

1.950 2.125 0.134 0.133 0.509 0.892

 

Last Modified Date: Monday, February 08, 2016