Bureau of Labor Statistics
| Internet: www.bls.gov/ro5/ | FOR IMMEDIATE RELEASE: |
| GENERAL INFORMATION: (312) 353-1880 | Monday, August 4, 2008 |
| MEDIA CONTACT: Paul LaPorte | |
| (312) 353-1138 |
The cost for electricity in the Cleveland-Akron area was 16.4 percent below the U.S. city average and the price for gasoline was 2.6 percent below the national average in June 2008 as measured by the Consumer Price Index, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. On the other hand, the cost of utility (piped) gas was 3.2 percent above the national average. Regional Commissioner Jay A. Mousa noted that local electricity prices have been below the June price levels in the United States since 2003 and that gasoline prices have been below the national average since 2001. (See Table A.)
| Year | Electricity per KWh | Gasoline per gallon | Utility (piped) gas per therm | ||||||
|---|---|---|---|---|---|---|---|---|---|
| United States | Cleveland-Akron | Percent Difference | United States | Cleveland-Akron | Percent Difference | United States | Cleveland-Akron | Percent Difference | |
1998 |
$0.091 | $0.126 | 38.5 | $1.148 | $1.111 | -3.2 | $0.673 | $0.539 | -19.9 |
1999 |
0.089 | 0.127 | 42.7 | 1.204 | 1.140 | -5.3 | 0.667 | 0.563 | -15.6 |
2000 |
0.090 | 0.127 | 41.1 | 1.666 | 1.845 | 10.7 | 0.781 | 0.641 | -17.9 |
2001 |
0.097 | 0.098 | 1.0 | 1.731 | 1.608 | -7.1 | 0.937 | 1.063 | 13.4 |
2002 |
0.095 | 0.097 | 2.1 | 1.489 | 1.462 | -1.8 | 0.771 | 0.575 | -25.4 |
2003 |
0.097 | 0.096 | -1.0 | 1.558 | 1.492 | -4.2 | 0.992 | 0.911 | -8.2 |
2004 |
0.099 | 0.096 | -3.0 | 2.083 | 1.871 | -10.2 | 1.047 | 0.939 | -10.3 |
2005 |
0.104 | 0.096 | -7.7 | 2.218 | 2.124 | -4.2 | 1.124 | 1.137 | 1.2 |
2006 |
0.118 | 0.101 | -14.4 | 2.963 | 2.850 | -3.8 | 1.210 | 1.218 | 0.7 |
2007 |
0.122 | 0.101 | -17.2 | 3.100 | 2.931 | -5.5 | 1.299 | 1.227 | -5.5 |
2008 |
0.128 | 0.107 | -16.4 | 4.115 | 4.009 | -2.6 | 1.578 | 1.628 | 3.2 |
A kilowatt-hour (kWh) of electricity cost Cleveland area consumers $0.107 in June 2008, 16.4 percent below the nationwide average of $0.128. Though the cost of local electricity has been rising over the last few years, the June 2008 price was well below the highs attained during the early part of the last decade when prices reached $0.127, more than 40 percent above the national average. (See chart A.)
The average price of a gallon of gasoline in Cleveland was $4.009 in June 2008, an increase of $1.078 or 36.8 percent from June a year ago. Over the last three years, the price of gasoline in the Cleveland area has almost doubled. In fact, gas prices have risen steadily since 2002 when the cost was $1.462, following the national trend. Still, with one exception, gasoline prices in the Cleveland area have been below the U.S. city average the entire decade. In June 2008, the local cost of a gallon of gas was 2.6 percent below that for the nation. (See chart B.)
A therm—a measure of constant heating value—of utility (piped) gas, commonly referred to as natural gas, in the Cleveland area averaged $1.628 in June 2008, 3.2 percent above the $1.578 for the nation as a whole. The price paid by local consumers has been above the national average for three of the last four years. This compares to earlier years in the last decade when local area prices were as much as 25.4 percent below the national average. (See chart C.)
Chart A. Average prices for electricity, United States and Cleveland-Akron area, June 1998-2008
Chart B. Average prices for gasoline, United States and Cleveland-Akron area, June 1998-2008
Chart C. Average prices for utility (piped) gas, United States and Cleveland-Akron area, June 1998-2008
The Cleveland-Akron, Ohio Consolidated Metropolitan Statistical Area (CMSA) includes the counties of Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Medina, Portage and Summit.
Additional information
Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; TDD message referral phone number: 1-800-877-8339.
For personal assistance or further information on CPI data, as well as other Bureau data, contact the Midwest Information Office at 312-353-1880 from 9:00 a.m. to 5:00 p.m., Eastern Time.
Technical Information
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) and per 500 kWh are published. For utility (piped) gas, average prices per therm, per 40 therms, and per 100 therms 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.
Price quotes for 40 therms and 100 therms of utility (piped) gas and for 500 kWh of electricity are collected in sample outlets for use in the average price programs only. Since they are for specified consumption amounts, they are not used in the CPI. All other price quotes used for average price estimation are regular CPI data.
With the exception of the 40 therms, 100 therms, and 500 kWh price quotes, 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.
Last Modified Date: August 4, 2008
