Wednesday, November 26, 2014
Gasoline prices averaged $3.366 a gallon in the Chicago-Gary-Kenosha area in October 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that Chicago area households paid an average of 16.7 cents per kilowatt hour (kWh) of electricity in October 2014, up from 12.5 cents per kWh in October 2013. The average cost of utility (piped) gas at 88.5 cents per therm in October was up from 88.3 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $3.366 a gallon, costs for gasoline in the Chicago area were 12.5 cents above the national average of $3.241 a gallon in October 2014. In October 2010 and October 2012, prices for a gallon of gasoline in Chicago were higher than the U.S. average by similar amounts, 12.3 cents. (See chart 1.)chart 2.) chart 3.)
The Chicago-Gary-Kenosha, Ill.-Ind.-Wis. Consolidated Metropolitan Statistical Area (CMSA) consists of Cook, De Kalb, Du Page, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, and Will Counties in Illinois; Lake and Porter Counties in Indiana; and Kenosha County in Wisconsin.
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.
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.
|Year and month||Gasoling per gallon||Electricity per kWh||Utility (piped) gas per therm|
|Chicago area||United States||Chicago area||United States||Chicago area||United States|
Last Modified Date: Wednesday, November 26, 2014