Tuesday, September 27, 2016
Gasoline prices averaged $2.155 a gallon in the Cleveland-Akron-Lorain area in August 2016, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Charlene Peiffer noted that area gasoline prices were down 41.1 cents compared to August 2015 when they averaged $2.566 per gallon. Cleveland area households paid an average of 12.7 cents per kilowatt-hour (kWh) of electricity in August 2016, 13.0 percent lower than the 14.6 cents per kWh paid in August 2015. Utility (piped) gas averaged 61.5 cents per therm in August, up from its average price of 60.1 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.155 a gallon, costs for gasoline in the Cleveland area were 6.3 cents lower than the national average of $2.218 in August 2016. With the exception of August 2012, when Cleveland area gasoline prices were comparable to the national average, Cleveland area gasoline prices in the previous four years (2012-2015) were below than the national average, ranging from 5.8 cents to 17.9 cents less. (See chart 1.)
The 12.7 cents per kWh Cleveland households paid for electricity in August 2016 was 8.6 percent lower than the nationwide average of 13.9 cents during this same period. However, in the previous four years (2012-2015), in August, costs for electricity in the local area were comparable to the national average. (See chart 2.)
Prices paid by Cleveland area consumers for utility (piped) gas, commonly referred to as natural gas, at 61.5 cents per therm, were 34.8 percent below the national average of 94.3 cents per therm in August 2016. Utility (piped) gas prices in the Cleveland area had been lower than the national average in the prior four years (2012-2015) in August, ranging from 23.5 percent lower in 2014 to 35.5 percent in 2015. (See chart 3.)
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 September 2016 is scheduled to be released on Tuesday, October 18, 2016.
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, September 27, 2016