Tuesday, November 20, 2018
Gasoline prices averaged $2.904 per gallon in the Chicago-Naperville-Elgin area in October 2018, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Charlene Peiffer noted that area gasoline prices were up 25.4 cents compared to October 2017 when they averaged $2.650 per gallon. Chicago area households paid an average of 15.6 cents per kilowatt-hour (kWh) of electricity in October 2018, higher than the 13.6 cents paid in October 2017. In October, the average cost of utility (piped) gas was 81.8 cents per therm, comparable to its average price of 83.0 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
The $2.904 per gallon Chicago households paid for gasoline in October 2018 was 4.1 cents less than the nationwide average of $2.945. In contrast, in each of the previous four years (2014-2017) in October, Chicago area gasoline prices surpassed those of the nation, ranging from 10.5 cents to 30.1 cents more. (See chart 1.)
The 15.6 cents per kWh that Chicago households paid for electricity in October 2018 was 14.7 percent higher than the nationwide average cost of 13.6 cents per kWh. Local area prices for electricity, in October 2017, were similar to the national average. However, in each of the prior three years (2014-2016) in October, Chicago electricity costs were higher than 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 81.8 cents per therm in October 2018, 20.0 percent below the national average of $1.023 per therm. In each of the previous four years (2014-2017) in October, Chicago area utility (piped) gas costs were lower than the national average, ranging from 11.3 percent to 18.6 percent less. (See chart 3.)
The Chicago-Naperville-Elgin, Ill.-Ind.-Wis., core based statistical area consists of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry, and Will Counties in Illinois; Jasper, Lake, Newton, 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 2018 is scheduled to be released on Wednesday, December 12, 2018.
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, 9 divisions, 2 population size classes, 8 region/size-class cross-classifications, and the 23 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 20, 2018