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14-1776-CHI September 26, 2014

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  • (312) 353-1138

Average Energy Prices, Cleveland-Akron-Lorain – August 2014

Gasoline prices averaged $3.458 a gallon in the Cleveland-Akron-Lorain area in August 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that area gasoline prices were 14.2 cents lower than last August when they averaged $3.600 per gallon. Cleveland area households paid an average of 14.0 cents per kilowatt hour (kWh) of electricity in August 2014, up from 13.6 cents per kWh in August 2013. Utility (piped) gas averaged 81.1 cents per therm in August, up from its average price of 71.6 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.458 a gallon, costs for gasoline in the Cleveland area were about 8 cents less than the national average of $3.540 in August 2014. A year earlier, consumers in the Cleveland area paid $3.600 a gallon, closer to the August 2013 national average of $3.658. Over the past five Augusts, the largest difference in gasoline prices occurred in 2010 when gasoline prices in Cleveland were 11.7 cents below the U.S. average. (See chart 1.)

 Chart 1. Average prices for gasoline, Cleveland-Akron-Lorain and the United States, 2010-2014 (as of August)
The 14.0 cents per kWh Cleveland households paid for electricity in August 2014 was not far from the nationwide average of 14.3 cents during this same period. A year earlier, electricity costs in the Cleveland area, at 13.6 cents per kWh, were also close to the national average of 13.7 cents. Electricity prices in the Cleveland area have been similar to or matched the national average during the past three Augusts. (See chart 2.)
 Chart 2. Average prices for electricity, Cleveland-Akron-Lorain and the United States, 2010-2014 (as of August)
Prices paid by Cleveland area consumers for utility (piped) gas, commonly referred to as natural gas, at 81.1 cents per therm, were 23.5 percent below the national average of $1.060 per therm in August 2014. A year earlier, area consumers paid 28.6 percent less per therm for natural gas compared to the nation. Utility (piped) gas prices in the Cleveland area have been lower than the national average in each of the past five Augusts, ranging from 6.8 percent below in August 2010 to August 2013’s 28.6 percent differential. (See chart 3.)
 

The Cleveland-Akron Consolidated Metropolitan Statistical Area (CMSA) 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.


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, Cleveland-Akron-Lorain and the United States, August 2013 - August 2014, not seasonally adjusted
Year and month Gasoling per gallon Electricity per kWh Utility (piped) gas per therm
Cleveland area United States Cleveland area United States Cleveland area United States

2013

 

August

$3.600 $3.658 $0.136 $0.137 $0.716 $1.003

September

3.546 3.616 0.125 0.137 0.681 1.000

October

(NA) 3.434 0.125 0.132 0.694 0.999

November

3.240 3.310 0.124 0.130 0.688 0.999

December

3.211 3.333 0.124 0.131 0.699 0.998

2014

 

January

3.358 3.378 0.124 0.134 0.741 1.040

February

3.389 3.422 0.124 0.134 0.813 1.078

March

3.629 3.590 0.124 0.135 0.915 1.154

April

3.670 3.717 0.126 0.131 0.842 1.137

May

3.755 3.745 0.126 0.136 0.814 1.111

June

3.886 3.750 0.142 0.143 0.839 1.088

July

3.546 3.690 0.140 0.143 0.819 1.093

August

3.458 3.540 0.140 0.143 0.811 1.060

Footnotes:
(NA) - Data not adequate for publication.
 

Last Modified Date: Friday, September 26, 2014

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News Release Information

14-1776-CHI September 26, 2014

Contacts

Technical information:
Media contact:
  • (312) 353-1138

Average Energy Prices, Cleveland-Akron-Lorain – August 2014

Gasoline prices averaged $3.458 a gallon in the Cleveland-Akron-Lorain area in August 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that area gasoline prices were 14.2 cents lower than last August when they averaged $3.600 per gallon. Cleveland area households paid an average of 14.0 cents per kilowatt hour (kWh) of electricity in August 2014, up from 13.6 cents per kWh in August 2013. Utility (piped) gas averaged 81.1 cents per therm in August, up from its average price of 71.6 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

At $3.458 a gallon, costs for gasoline in the Cleveland area were about 8 cents less than the national average of $3.540 in August 2014. A year earlier, consumers in the Cleveland area paid $3.600 a gallon, closer to the August 2013 national average of $3.658. Over the past five Augusts, the largest difference in gasoline prices occurred in 2010 when gasoline prices in Cleveland were 11.7 cents below the U.S. average. (See chart 1.)

 Chart 1. Average prices for gasoline, Cleveland-Akron-Lorain and the United States, 2010-2014 (as of August)
The 14.0 cents per kWh Cleveland households paid for electricity in August 2014 was not far from the nationwide average of 14.3 cents during this same period. A year earlier, electricity costs in the Cleveland area, at 13.6 cents per kWh, were also close to the national average of 13.7 cents. Electricity prices in the Cleveland area have been similar to or matched the national average during the past three Augusts. (See chart 2.)
 Chart 2. Average prices for electricity, Cleveland-Akron-Lorain and the United States, 2010-2014 (as of August)
Prices paid by Cleveland area consumers for utility (piped) gas, commonly referred to as natural gas, at 81.1 cents per therm, were 23.5 percent below the national average of $1.060 per therm in August 2014. A year earlier, area consumers paid 28.6 percent less per therm for natural gas compared to the nation. Utility (piped) gas prices in the Cleveland area have been lower than the national average in each of the past five Augusts, ranging from 6.8 percent below in August 2010 to August 2013’s 28.6 percent differential. (See chart 3.)
 

The Cleveland-Akron Consolidated Metropolitan Statistical Area (CMSA) 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.


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, Cleveland-Akron-Lorain and the United States, August 2013 - August 2014, not seasonally adjusted
Year and month Gasoling per gallon Electricity per kWh Utility (piped) gas per therm
Cleveland area United States Cleveland area United States Cleveland area United States

2013

 

August

$3.600 $3.658 $0.136 $0.137 $0.716 $1.003

September

3.546 3.616 0.125 0.137 0.681 1.000

October

(NA) 3.434 0.125 0.132 0.694 0.999

November

3.240 3.310 0.124 0.130 0.688 0.999

December

3.211 3.333 0.124 0.131 0.699 0.998

2014

 

January

3.358 3.378 0.124 0.134 0.741 1.040

February

3.389 3.422 0.124 0.134 0.813 1.078

March

3.629 3.590 0.124 0.135 0.915 1.154

April

3.670 3.717 0.126 0.131 0.842 1.137

May

3.755 3.745 0.126 0.136 0.814 1.111

June

3.886 3.750 0.142 0.143 0.839 1.088

July

3.546 3.690 0.140 0.143 0.819 1.093

August

3.458 3.540 0.140 0.143 0.811 1.060

Footnotes:
(NA) - Data not adequate for publication.
 

Last Modified Date: Friday, September 26, 2014