Gasoline prices averaged $3.368 a gallon in the Chicago-Naperville-Elgin area in December 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Jason Palmer noted that area gasoline prices were down 17.4 cents compared to last December when they averaged $3.542 per gallon. Chicago area households paid an average of 16.1 cents per kilowatt hour (kWh) of electricity in December 2023, up from 14.8 cents per kWh in December 2022. The average cost of utility (piped) gas at 96.8 cents per therm in December was down from $1.334 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

Prices for gasoline in the Chicago area were at $3.368 per gallon in December 2023, compared to the national average of $3.411. Over the past five Decembers, gasoline prices in the Chicago area have ranged from $3.558 to $2.290. (See chart 1.)

  

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Chart 1. Average prices for gasoline, the United States and Chicago-Naperville-Elgin, IL-IN-WI, 2019–23 (as of December)

Period	United States	Chicago
Dec 2019	$2.652	$2.638
Dec 2020	$2.235	$2.290
Dec 2021	$3.505	$3.558
Dec 2022	$3.459	$3.542
Dec 2023	$3.411	$3.368
Source: U.S. Bureau of Labor Statistics.

The 16.1 cents per kWh that Chicago households paid for electricity in December 2023 was 4.7 percent below the nationwide average cost of 16.9 cents per kWh. Last December, electricity costs in Chicago were 14.8 cents per kWh, compared to the national average of 16.5 cents. Over the past five Decembers, Chicago area electricity prices have ranged from 16.1 cents to 14.1 cents. (See chart 2.)

  

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Chart 2. Average prices for electricity, the United States and Chicago-Naperville-Elgin, IL-IN-WI, 2019–23 (as of December)

Period	United States	Chicago
Dec 2019	$0.133	$0.141
Dec 2020	$0.136	$0.141
Dec 2021	$0.142	$0.146
Dec 2022	$0.165	$0.148
Dec 2023	$0.169	$0.161
Source: U.S. Bureau of Labor Statistics.

Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were 96.8 cents per therm in December 2023, 32.3 percent below the national average of $1.429 per therm. Over the past five Decembers, Chicago area utility (piped) gas prices have ranged from $1.334 to 76.0 cents per therm. (See chart 3.)

  

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Chart 3. Average prices for utility (piped) gas, the United States and Chicago-Naperville-Elgin, IL-IN-WI, 2019–23 (as of December)

Period	United States	Chicago
Dec 2019	$1.057	$0.760
Dec 2020	$1.114	$0.808
Dec 2021	$1.402	$1.228
Dec 2022	$1.667	$1.334
Dec 2023	$1.429	$0.968
Source: U.S. Bureau of Labor Statistics.

The Chicago-Naperville-Elgin, IL-IN-WI Metropolitan Statistical Area consists of Cook, De Kalb, Du Page, Grundy, Kane, Kendall, Lake, McHenry, and Will Counties in Illinois; Jasper, Lake, Newton, and Porter Counties in Indiana; and Kenosha County in Wisconsin.

The Consumer Price Index for January 2024 is scheduled to be released on Tuesday, February 13, 2024, at 7:30 a.m. (CT).

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; Telecommunications Relay Service: 7-1-1.