Friday, February 22, 2019
Gasoline prices averaged $2.216 per gallon in the Chicago-Naperville-Elgin area in January 2019, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Charlene Peiffer noted that area gasoline prices were down 57.7 cents compared to January 2018 when they averaged $2.793 per gallon. Chicago area households paid an average of 16.1 cents per kilowatt-hour (kWh) of electricity in January 2019, comparable to the 16.2 cents paid in January 2018. In January, the average cost of utility (piped) gas was 85.2 cents per therm, higher than its average price of 80.8 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
The $2.216 per gallon Chicago households paid for gasoline in January 2019 was 13.6 cents less than the nationwide average of $2.352. In January 2015 and 2016, Chicago area gasoline prices were 3.0 cents and 4.2 cents lower than the national average, respectively; whereas, local area prices in January 2017 and 2018 were 14.7 cents and 19.7 cents higher than the national average, respectively. (See chart 1.)
The 16.1 cents per kWh that Chicago households paid for electricity in January 2019 was 19.3 percent higher than the nationwide average cost of 13.5 cents per kWh. In each of the prior four years (2015-2018) in January, Chicago electricity costs were higher than the national average, ranging from 13.4 percent to 24.6 percent more. (See chart 2.)
Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were 85.2 cents per therm in January 2019, 21.3 percent below the national average of $1.082 per therm. In each of the previous four years (2015-2018) in January, Chicago area utility (piped) gas costs were lower than the national average, ranging from 12.4 percent to 22.9 percent less. (See chart 3.)
The Chicago-Naperville-Elgin, IL-IN-WI., 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 February 2019 is scheduled to be released on Tuesday, March 12, 2019.
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: Friday, February 22, 2019