Miami area consumers paid 48.9 percent more than the U.S. city average for utility (piped) gas in July 2012, as measured by the Consumer Price Index (CPI), the U.S. Bureau of Labor Statistics reported today. In contrast, the price for electricity in Miami was 14.3 percent less than the U.S. city average. Miami prices for gasoline were similar to the nation. Regional Commissioner Janet S. Rankin noted that prices for each of the selected energy products decreased both nationally and in the Miami area from a year ago. (See table A. Data in this release are not seasonally adjusted; accordingly, over-the-year analysis is used throughout.)

A therm—a measure of constant heating value—of utility (piped) gas, commonly referred to as natural gas, in the Miami area averaged $1.404 in July 2012, down 7.1 percent from a year ago. Nationwide, a therm declined 12.5 percent from July 2011 to July 2012. Over the past five years, Miami utility (piped) gas prices have remained above the national average. (See chart 1.)

In July 2012, a gallon of gasoline averaged $3.448 in the Miami area, similar to the nation. Over the year, gasoline prices in the Miami area decreased 8.6 percent compared to a 5.4-percent decline nationwide. Although the price of gasoline can be volatile from month to month, local and national prices have moved in tandem over the last five years. (See chart 2.)

A kilowatt-hour (kWh) of electricity cost Miami area consumers $0.114 in July 2012, little changed from July a year ago. Nationwide, electricity prices were close to where they were one year ago, averaging $0.133 in July 2012. Since January 2010, electricity prices in Miami have remained below the U.S. city average. (See chart 3.)

The Miami-Ft. Lauderdale, Fla. Combined Metropolitan Statistical Area (CMSA) is comprised of Broward and Miami-Dade Counties in Florida.

Technical Note

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, averages 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 prices 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 prices quotes used for average prices 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.

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