Wednesday, December 17, 2014
Gasoline prices averaged $2.969 a gallon in the Miami-Fort Lauderdale area in November 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that area gasoline prices were down 46.8 cents compared to last November when they averaged $3.437 per gallon. Miami area households paid an average of 11.0 cents per kilowatt hour (kWh) of electricity in November 2014, down from 11.5 per kWh in November 2013. The average price of utility (piped) gas, at $1.552 per therm in November, compared to the $1.529 per therm spent last year. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)
Miami area consumers paid $2.969 a gallon for gasoline in November 2014, compared to $2.945 nationally. A year earlier, consumers in the Miami area paid close to the national average for a gallon of gasoline. The local price of a gallon of gasoline has been similar to the national average in the month of November over the past five years. (See chart 1.)
The 11.0 cents per kWh Miami households paid for electricity in November 2014 was 17.9 percent less than the nationwide average of 13.4 cents per kWh. Last November, electricity costs were 11.5 percent lower in Miami compared to the nation. The local price of electricity in the Miami area in November was at least 8 percent less than the U.S. in each of the last five years. (See chart 2.)
Prices paid by Miami area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.552 per therm, or 50.0 percent higher than the national average in November 2014 ($1.035 per therm). A year earlier, area consumers paid 53.1 percent more per therm for natural gas than the nation. In each of the past five years, the per therm cost for natural gas in November was at least 31 percent more in the Miami area versus the U.S. average. (See chart 3.)
The January 2015 Consumer Price Index for the Miami-Fort Lauderdale area 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 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||Gasoline per gallon||Electricity per kWh||Utility (piped) gas per therm|
|Miami area||United States||Miami area||United States||Miami area||United States|
Last Modified Date: Wednesday, December 17, 2014