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15-2423-ATL
Tuesday, December 15, 2015

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Average Energy Prices, Miami-Fort Lauderdale – November 2015

Gasoline prices averaged $2.225 a gallon in the Miami-Fort Lauderdale area in November 2015, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that area gasoline prices were down $0.744 compared to last November when they averaged $2.969 per gallon. Miami area households paid an average of 11.6 cents per kilowatt hour (kWh) of electricity in November 2015, more than the 11.0 cents per kWh in November 2014. The average price of utility (piped) gas at $1.519 per therm in November, was less than the $1.552 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 $2.225 a gallon for gasoline in November 2015, almost the same as the $2.249 paid nationally. A year earlier, consumers in the Miami area paid $2.969 for a gallon of gas which was similar to the national average. The average price for a gallon of gasoline in Miami in the month of November has been similar to the nation in each of the last five years. (See chart 1.)

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

The 11.6 cents per kWh Miami households paid for electricity in November 2015 was 13.4 percent less than the nationwide average of 13.4 cents per kWh. Last November, electricity costs were 17.9 percent lower in Miami compared to the nation. The local price of electricity in the Miami area in November was at least 10 percent less than the U.S. in four 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 November)

Prices paid by Miami area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.519 per therm, or 68.2 percent higher than the national average in November 2015 ($0.903 per therm). A year earlier, area consumers paid 50 percent more per therm for natural gas than the nation. In four of the past five years, the per therm cost for natural gas in the Miami area exceeded the U.S. average by more than 46 percent in the month of November. (See chart 3.)

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

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

The Consumer Price Index for December 2015 is scheduled to be released on Wednesday, January 20, 2016.


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, November 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

           

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

February

2.329 2.308 0.118 0.138 1.530 1.007

March

2.521 2.544 0.119 0.136 1.531 0.985

April

2.570 2.545 0.119 0.137 1.507 0.947

May

2.687 2.832 0.116 0.137 1.529 0.930

June

2.776 2.889 0.116 0.143 1.547 0.942

July

2.752 2.893 0.116 0.142 1.518 0.933

August

2.556 2.745 0.116 0.142 1.518 0.932

September

2.342 2.463 0.116 0.141 1.518 0.921

October

2.274 2.357 0.116 0.136 1.518 0.909

November

2.225 2.249 0.116 0.134 1.519 0.903

 

Last Modified Date: Tuesday, December 15, 2015