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Friday, March 25, 2016
Gasoline prices averaged $1.666 a gallon in the Cleveland-Akron-Lorain area in February 2016, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that area gasoline prices were down 59.9 cents compared to February 2015 when they averaged $2.265 per gallon. Cleveland area households paid an average of 13.8 cents per kilowatt hour (kWh) of electricity in February 2016, 2.2 percent higher than the 13.5 cents per kWh paid in February 2015. Utility (piped) gas averaged 53.9 cents per therm in February, down from its average price of 67.8 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $1.666 a gallon, costs for gasoline in the Cleveland area were 16.7 cents lower than the national average of $1.833 in February 2016. Over the previous four years (2012-2015) in February, average gasoline costs in Cleveland have been lower than the national average, ranging from 3.3 cents to 17.1 cents. (See chart 1.)
The 13.8 cents per kWh Cleveland households paid for electricity in February 2016 was comparable to the nationwide average of 13.4 cents during this same period. In February 2015 costs for electricity in the local area were also comparable to the national average. However, in the previous three years (2012-2014) in February, electricity costs in the Cleveland area were lower than the national average, ranging from 4.7 percent to 7.5 percent below. (See chart 2.)
Prices paid by Cleveland area consumers for utility (piped) gas, commonly referred to as natural gas, at 53.9 cents per therm, were 39.8 percent below the national average of 89.5 cents per therm in February 2016. Utility (piped) gas prices in the Cleveland area had been lower than the national average in the prior four years (2012-2015) in February, ranging from 24.6 percent lower in 2014 to 32.7 percent in 2015. (See chart 3.)
The Cleveland-Akron-Lorain, Ohio, Consolidated Metropolitan Statistical Area consists of Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Medina, Portage and Summit Counties in Ohio.
Historical average energy prices for the U.S. and select metropolitan areas are available at www.bls.gov/regions/midwest/data/averageenergyprices_selectedareas_table.htm.
The Consumer Price Index for March 2015 is scheduled to be released on Thursday, April 14, 2016.
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|
|Cleveland area||United States||Cleveland area||United States||Cleveland area||United States|
Last Modified Date: Friday, March 25, 2016