Tuesday, August 22, 2017
Gasoline prices averaged $2.487 a gallon in the Chicago-Gary-Kenosha area in July 2017, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Charlene Peiffer noted that area gasoline prices were up 8.4 cents compared to July 2016 when they averaged $2.403 per gallon. Chicago area households paid an average of 16.0 cents per kilowatt-hour (kWh) of electricity in July 2017, up 4.6 percent from July 2016. In July, the average cost of utility (piped) gas was 87.8 cents per therm, up 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 $2.487 a gallon, prices for gasoline in the Chicago area were 14.3 cents higher compared to the national average of $2.344 a gallon in July 2017. Chicago area gasoline prices in the previous four years (2013-2016) in July exceeded the national average, ranging from 7.9 cents to 31.4 cents more. (See chart 1.)
The 16.0 cents per kWh that Chicago households paid for electricity in July 2017 was 11.9 percent higher than the nationwide average cost of 14.3 cents per kWh. With the exception of July 2013, when Chicago area electricity costs were 8.8 percent lower than the national average, Chicago electricity costs in the previous four years (2013-2016) in July have exceeded the national average, ranging from 10.1 percent to 12.7 percent more. (See chart 2.)
Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were 87.8 cents per therm in July 2017, 14.8 percent below the national average of $1.031 per therm. With the exception of July 2014, when Chicago area utility (piped) gas costs were 8.5 percent higher than the national average, Chicago area utility (piped) gas costs in the previous four years (2013-2016) in July were lower than the national average, ranging from 7.9 percent to 16.1 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 August 2017 is scheduled to be released on Thursday, September 14, 2017.
In January 2018, BLS will introduce a new geographic area sample for the Consumer Price Index (CPI). As part of the new sample, the index for this area will be renamed. The first indexes using the new structure will be published in February 2018. Additional information on the geographic revision is available at: www.bls.gov/cpi/additional-resources/geographic-revision-2018.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 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, August 22, 2017