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15-308-ATL
Thursday, February 26, 2015

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Average Energy Prices, Miami-Fort Lauderdale – January 2015

Gasoline prices averaged $2.274 a gallon in the Miami-Fort Lauderdale area in January 2015, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that area gasoline prices were down $1.253 compared to last January when they averaged $3.527 per gallon. Miami area households paid an average of 11.8 cents per kilowatt hour (kWh) of electricity in January 2015, similar to the 12.0 cents per kWh in January 2014. The average price of utility (piped) gas, at $1.590 per therm in January, compared to the $1.606 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 $2.274 a gallon for gasoline in January 2015, 4.8 percent more than the $2.170 paid nationally. A year earlier, consumers in the Miami area paid 4.4 percent more than the national average for a gallon of gasoline. The difference between the price paid for a gallon of gasoline in Miami and the nation has increased each of the last five years in January. (See chart 1.)

 Chart 1. Average prices for gasoline, Miami-Fort Lauderdale and the United States, 2011-2015 (as of January)

The 11.8 cents per kWh Miami households paid for electricity in January 2015 was 14.5 percent less than the nationwide average of 13.8 cents per kWh. Last January, electricity costs were 10.4 percent lower in Miami compared to the nation. The local price of electricity in the Miami area in January was at least 8 percent less than the U.S. in each of the last five years. (See chart 2.)

 Chart 2. Average prices for electricity, Miami-Fort Lauderdale and the United States, 2011-2015 (as of Janurary)

Prices paid by Miami area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.590 per therm, or 53.5 percent higher than the national average in January 2015 ($1.036 per therm). A year earlier, area consumers paid 54.4 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 January was at least 39 percent more in the Miami area versus the U.S. average. (See chart 3.)

 Chart 3. Average prices for utility (piped) gas, Miami-Fort Lauderdale and the United States, 2011-2015 (as of January)

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

The February 2015 Consumer Price Index for the Miami-Fort Lauderdale area is scheduled to be released on Tuesday, March 24, 2015, at 8:30 a.m. (ET).


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, 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.

 

Table 1. Average prices for gasoline, electricity, and utility (piped) gas, Miami-Fort Lauderdale and the United States, January 2014-2015, 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

2014

           

January

3.527 3.378 0.120 0.134 1.606 1.040

February

3.534 3.422 0.119 0.134 1.606 1.078

March

3.664 3.590 0.120 0.135 1.642 1.154

April

3.857 3.717 0.122 0.131 1.618 1.137

May

3.732 3.745 0.122 0.136 1.618 1.111

June

3.662 3.750 0.122 0.143 1.634 1.088

July

3.624 3.690 0.121 0.143 1.634 1.093

August

3.451 3.540 0.121 0.143 1.598 1.060

September

3.388 3.463 0.121 0.141 1.589 1.058

October

3.248 3.241 0.121 0.136 1.585 1.033

November

2.969 2.945 0.110 0.134 1.552 1.035

December

2.696 2.618 0.121 0.135 1.590 1.060

2015

           

January

2.274 2.170 0.118 0.138 1.590 1.036

 

Last Modified Date: Thursday, February 26, 2015