Friday, December 01, 2017
Gasoline prices averaged $2.650 a gallon in the Chicago-Gary-Kenosha area in October 2017, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Charlene Peiffer noted that area gasoline prices were up 23.1 cents compared to October 2016 when they averaged $2.419 per gallon. Chicago area households paid an average of 13.6 cents per kilowatt-hour (kWh) of electricity in October 2017, down 8.1 percent from October 2016. In October, the average cost of utility (piped) gas was 83.0 cents per therm, lower than its average price of 85.2 cents per therm a year earlier. Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
At $2.650 a gallon, prices for gasoline in the Chicago area were 10.5 cents higher than the $2.545 national average in October 2017. In the previous three years (2014-2016) in October, Chicago area gasoline prices were also higher than the national average, ranging from 11.5 cents to 30.1 cents more. (See chart 1.)
The 13.6 cents per kWh that Chicago households paid for electricity in October 2017 was comparable to the nationwide average cost of 13.7 cents per kWh. In October 2013, Chicago area electricity costs were 5.3 percent lower than the national average. In the previous three years (2014-2016) in October, Chicago area electricity costs have exceeded the national average, ranging from 10.4 percent to 22.8 percent more. (See chart 2.)
Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were 83.0 cents per therm in October 2017, 18.6 percent below the national average of $1.020 per therm. Chicago area utility (piped) gas costs in the previous four years (2013-2016) in October were lower than the national average, ranging from 11.3 percent to 16.4 percent less. (See chart 3.)
The Chicago-Gary-Kenosha, Ill.-Ind.-Wis., Consolidated Metropolitan Statistical Area consists of Cook, DeKalb, DuPage, 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 2017 is scheduled to be released on Wednesday, December 13, 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: Friday, December 01, 2017