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14-1999-ATL

Wednesday, October 22, 2014

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Average Energy Prices, Miami-Fort Lauderdale – September 2014

Gasoline prices averaged $3.388 a gallon in the Miami-Fort Lauderdale area in September 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that area gasoline prices were down 26.1 cents compared to last September when they averaged $3.649 per gallon. Miami area households paid an average of 12.1 cents per kilowatt hour (kWh) of electricity in September 2014, up from 11.5 per (kWh) in September 2013. The average price of utility (piped) gas, at $1.589 per therm in September, was more than the $1.489 per therm spent last year. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

Miami area consumers paid $3.388 a gallon for gasoline in September 2014, compared to $3.463 nationally. A year earlier, consumers in the Miami area paid close to the national average for a gallon of gasoline. The local price of a gallon of gasoline has been similar to the national average in the month of September over the past five years. (See chart 1.)

Chart 1. Average prices for gasoline, Miami-Fort Lauderdale and the United States, 2010-2014 (as of September)


The 12.1 cents per kWh Miami households paid for electricity in September 2014 was 14.2 percent less than the nationwide average of 14.1 cents per kWh. Last September, electricity costs were 16.1 percent lower in Miami compared to the nation. The local price of electricity in the Miami area in September was at least 13 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, 2010-2014 (as of September)


Prices paid by Miami area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.589 per therm, or 50.2 percent higher than the national average in September 2014 ($1.058 per therm). A year earlier, area consumers paid 48.9 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 September was at least 30 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, 2010-2014 (as of September)


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

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, September 2013-2014, 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
2013

September

3.649 3.616 0.115 0.137 1.489 1.000

October

3.502 3.434 0.115 0.132 1.516 0.999

November

3.437 3.310 0.115 0.130 1.529 0.999

December

3.534 3.333 0.114 0.131 1.542 0.998
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

Last Modified Date: October 22, 2014