Friday, September 26, 2014
Gasoline prices averaged $3.458 a gallon in the Cleveland-Akron-Lorain area in August 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that area gasoline prices were 14.2 cents lower than last August when they averaged $3.600 per gallon. Cleveland area households paid an average of 14.0 cents per kilowatt hour (kWh) of electricity in August 2014, up from 13.6 cents per kWh in August 2013. Utility (piped) gas averaged 81.1 cents per therm in August, up from its average price of 71.6 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $3.458 a gallon, costs for gasoline in the Cleveland area were about 8 cents less than the national average of $3.540 in August 2014. A year earlier, consumers in the Cleveland area paid $3.600 a gallon, closer to the August 2013 national average of $3.658. Over the past five Augusts, the largest difference in gasoline prices occurred in 2010 when gasoline prices in Cleveland were 11.7 cents below the U.S. average. (See chart 1.)chart 2.) 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.
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 from 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||Gasoling 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: Friday, September 26, 2014