Friday, August 11, 2017
Gasoline prices averaged $2.214 a gallon in the Miami-Fort Lauderdale area in July 2017, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that area gasoline prices were 7.2 cents lower when compared to last July when they averaged $2.286 per gallon. Miami area households paid an average of 11.9 cents per kilowatt hour (kWh) of electricity in July 2017, up from 10.8 cents per kWh in July 2016. The average price of utility (piped) gas at $1.480 per therm in July was higher than the $1.427 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 $2.214 a gallon for gasoline in July 2017, lower than the $2.344 paid nationally. A year earlier, prices paid for a gallon of gasoline by consumers in the Miami were similar to the national average. The average price for a gallon of gasoline in Miami in the month of July has been similar to the national average in three of the past five years. (See chart 1.)
The 11.9 cents per kWh Miami households paid for electricity in July 2017 was 16.8 percent less than the nationwide average of 14.3 cents per kWh. Last July, electricity costs were 22.3 percent lower in Miami compared to the nation. The local price of electricity in the Miami area in July was at least 15 percent less than the U.S. average 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 $1.480 per therm, or 43.5 percent higher than the national average in July 2017 ($1.031 per therm). A year earlier, area consumers paid 53.3 percent more per therm for natural gas than the nation.
In each of the last five years, the per therm cost for natural gas in the Miami area exceeded the U.S. average by at least 43 percent in the month of July. (See chart 3.)
The Miami-Fort Lauderdale, Fla., Metropolitan Statistical Area consists of Broward and Miami-Dade Counties in Florida.
The Consumer Price Index for August 2017 is scheduled to be released on Thursday, September 14, 2017.
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|
|Miami area||United States||Miami area||United States||Miami area||United States|
Last Modified Date: Friday, August 11, 2017