Thursday, November 30, 2017
Gasoline prices averaged $2.330 a gallon in the Cleveland-Akron-Lorain area in October 2017, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Charlene Peiffer noted that area gasoline prices were up 16.4 cents compared to October 2016 when they averaged $2.166 per gallon. Cleveland area households paid an average of 13.6 cents per kilowatt-hour (kWh) of electricity in October 2017, 13.3 percent higher than the 12.0 cents per kWh paid in October 2016. Utility (piped) gas averaged 83.2 cents per therm in October, up from its average price of 61.6 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.330 a gallon, costs for gasoline in the Cleveland area were 21.5 cents lower than the national average of $2.545 in October 2017. Cleveland area gasoline prices were 13.8 cents and 5.3 cents below the national average in October of 2016 and 2014, but were 7.5 cents above in October 2015. (See chart 1.)
The 13.6 cents per kWh Cleveland households paid for electricity in October 2017 was similar to the nationwide average of 13.7 cents during this same period. Excluding October 2015, when Cleveland area electricity costs were similar to the national average, Cleveland area electricity costs in the previous four years (2013-2016) in October were lower than the national average, ranging from 5.3 percent lower to 10.4 percent lower. (See chart 2.)
Prices paid by Cleveland area consumers for utility (piped) gas, commonly referred to as natural gas, at 83.2 cents per therm, were 18.4 percent below the national average of $1.020 per therm in October 2017. Utility (piped) gas prices in the Cleveland area were also lower than the national average in the prior four years (2013-2016) in October, ranging from 26.1 percent lower in 2014 to 37.7 percent lower 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 November 2017 is scheduled to be released on Wednesday, December 13, 2017.
In January 2018, BLS will introduce a new geographic area sample for the Consumer Price Index (CPI). As part of the the new sample, average energy prices for this area will be discontinued. Additional information on the geographic revision is available at: www.bls.gov/cpi/additional-resources/geographic-revision-2018.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 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: Thursday, November 30, 2017