Tuesday, November 24, 2015
Gasoline prices averaged $2.658 a gallon in the Chicago-Gary-Kenosha area in October 2015, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that area gasoline prices were down 70.8 cents compared to October 2014 when they averaged $3.366 per gallon. Chicago area households paid an average of 15.8 cents per kilowatt hour (kWh) of electricity in October 2015, less than the 16.7 cents per kWh paid in October 2014. The average cost of utility (piped) gas at 76 cents per therm in October was down from 88.5 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.658 a gallon, costs for gasoline in the Chicago area were 30.1 cents higher than the national average of $2.357 a gallon in October 2015. Excluding 2013, gasoline prices in Chicago have been similar to the national average in the previous four years (2011-2014) in October. (See chart 1.)
The 15.8 cents per kWh that Chicago households paid for electricity in October 2015 was 16.2 percent higher than the nationwide average cost of 13.6 cents per kWh. With the exception of October 2013 when Chicago area electricity costs were 5.3 percent less than the national average, prices have exceeded the national average by 18.5 percent or more in the previous four years (2011-2014) in October. (See chart 2.)
Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were 76 cents per therm in October 2015, 16.4 percent below the national average of 90.9 cents per therm. In the previous four years (2011-2014) in October, Chicago area utility (piped) gas costs were lower than the national average, ranging from 11.6 percent to 21.4 percent less. (See chart 3.)
The Chicago-Gary-Kenosha, Ill.-Ind.-Wis., Consolidated Metropolitan Statistical Area 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.
The Consumer Price Index for November 2015 is scheduled to be released on Tuesday, December 15, 2015.
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 in 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||Gasoline 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: Tuesday, November 24, 2015