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18-1004-ATL
Tuesday, June 12, 2018

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Average Energy Prices, Miami-Fort Lauderdale-West Palm Beach – May 2018

Gasoline prices averaged $2.888 a gallon in the Miami-Fort Lauderdale-West Palm Beach area in May 2018, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that area gasoline prices were 50.4 cents higher when compared to last May when they averaged $2.384 per gallon. Miami area households paid an average of 11.9 cents per kilowatt hour (kWh) of electricity in May 2018, similar to the 11.9 cents per kWh paid in May 2017. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Miami area consumers paid $2.888 a gallon for gasoline in May 2018, similar to the $2.963 paid nationally. A year earlier, prices paid for a gallon of gasoline by consumers in the Miami area compared to the national average. In four of the past five years, the local price for a gallon of gasoline in Miami has been similar to the nationwide average in the month of May. (See chart 1.)

The 11.9 cents per kWh Miami households paid for electricity in May 2018 was 12.5 percent less than the nationwide average of 13.6 cents per kWh. Last May, electricity costs were 13.1 percent lower in Miami compared to the nation. The local price of electricity in the Miami area in May was at least 10 percent less than the U.S. average in each of the last five years. (See chart 2.)

The Miami-Fort Lauderdale-West Palm Beach, Fla., Metropolitan Statistical Area consists of Broward, Miami-Dade, and Palm Beach Counties in Florida.

The Consumer Price Index for June 2018 is scheduled to be released on Thursday, July 12, 2018.


Technical Note

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, 9 divisions, 2 population size classes, 8 region/size-class cross-classifications, and the 23 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.

Table 1. Average prices for gasoline, electricity, and utility (piped) gas, Miami-Fort Lauderdale-West Palm Beach and the United States, May 2017-2018, not seasonally adjusted
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

2017

May

2.384 2.448 0.119 0.137 1.525 1.036

June

2.342 2.400 0.119 0.142 1.480 1.040

July

2.214 2.344 0.119 0.143 1.480 1.031

August

2.291 2.436 0.119 0.142 1.436 1.027

September

2.739 2.688 0.119 0.142 1.436 1.018

October

2.584 2.545 0.119 0.137 1.436 1.020

November

2.554 2.608 0.119 0.136 1.436 1.028

December

2.487 2.521 0.119 0.136 1.436 1.042

2018

January

2.503 2.596 0.119 0.135 1.423 1.048

February

2.661 2.632 0.119 0.135 NA 1.077

March

2.566 2.631 0.119 0.135 NA 1.054

April

2.725 2.795 0.119 0.134 NA 1.044

May

2.888 2.963 0.119 0.136 NA 1.050

NA: Data not adequate for publication.

 

Last Modified Date: Tuesday, June 12, 2018