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Friday, June 14, 2019

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Average Energy Prices, Miami-Fort Lauderdale-West Palm Beach – May 2019

Gasoline prices averaged $2.798 a gallon in the Miami-Fort Lauderdale-West Palm Beach area in May 2019, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that area gasoline prices were 9.0 cents less than last May when they averaged $2.888 per gallon. Miami area households paid an average of 12.1 cents per kilowatt hour (kWh) of electricity in May 2019, similar to the 11.9 cents per kWh paid in May 2018. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect the impact of seasonal influences.)

Miami area consumers paid $2.798 a gallon for gasoline in May 2019, 5.6 percent less than 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. The local price of gasoline in the Miami area has been similar to the national average in the month of May in 3 of the past 5 years. (See chart 1.)

The 12.1 cents per kWh Miami households paid for electricity in May 2019 was 11.0 percent less than the nationwide average of 13.6 cents per kWh. Last May, electricity costs were 12.5 percent lower in Miami compared to the nation. The local price of electricity in the Miami area in May was at least 11 percent less than the U.S. average in each of the last five years. (See chart 2.)

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

The Consumer Price Index for June 2019 is scheduled to be released on Thursday, July 11, 2019.


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 2018-2019, 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

2018

May

2.888 2.963 0.119 0.136 NA 1.050

June

2.900 2.970 0.119 0.139 NA 1.042

July

2.832 2.930 0.118 0.139 NA 1.038

August

2.858 2.919 0.118 0.139 NA 1.055

September

2.838 2.930 0.118 0.138 NA 1.030

October

2.881 2.945 0.118 0.136 NA 1.023

November

2.673 2.733 0.118 0.134 NA 1.020

December

2.453 2.479 0.118 0.135 NA 1.085

2019

January

2.312 2.352 0.120 0.135 NA 1.082

February

2.338 2.412 0.120 0.136 NA 1.051

March

2.616 2.620 0.120 0.135 NA 1.048

April

2.822 2.894 0.121 0.135 NA 1.034

May

2.798 2.963 0.121 0.136 NA 1.035

NA: Not available.

 

Last Modified Date: Friday, June 14, 2019