Friday, March 25, 2016
Gasoline prices averaged $1.710 a gallon in the Chicago-Gary-Kenosha area in February 2016, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that area gasoline prices were down 71.5 cents compared to February 2015 when they averaged $2.425 per gallon. Chicago area households paid an average of 15.3 cents per kilowatt hour (kWh) of electricity in February 2016, 11.0 percent less than the 17.2 cents per kWh paid in February 2015. In February, the average cost of utility (piped) gas was 73.3 cents per therm, down from its average price of 78.1 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $1.710 a gallon, prices for gasoline in the Chicago area were 12.3 cents lower than the national average of $1.833 a gallon in February 2016. In February 2012 gasoline prices in the Chicago area were comparable to the national average. However, area gasoline prices exceeded the national average by more than 11 cents a gallon in the previous three years (2013-2015) in February. (See chart 1.)
The 15.3 cents per kWh that Chicago households paid for electricity in February 2016 was 14.2 percent higher than the nationwide average cost of 13.4 cents per kWh. With the exception of February 2014, when Chicago area electricity costs were comparable to the national average, prices have exceeded the national average by 19.5 percent or more in the previous four years (2012-2015) in February. (See chart 2.)
Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were 73.3 cents per therm in February 2016, 18.1 percent below the national average of 89.5 cents per therm. In the previous four years (2012-2015) in February, Chicago area utility (piped) gas costs were also lower than the national average, ranging from 10.1 percent to 28.6 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 March 2016 is scheduled to be released on Thursday, April 14, 2016.
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: Friday, March 25, 2016