Wednesday, June 15, 2022
Gasoline prices averaged $5.027 per gallon in the Chicago-Naperville-Elgin area in May 2022, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Jason Palmer noted that area gasoline prices were up $1.804 compared to May 2021 when they averaged $3.223 per gallon. Chicago area households paid an average of 15.9 cents per kilowatt-hour (kWh) of electricity in May 2022, more than the 14.6 cents per kilowatt-hour paid in May 2021. In May, the average cost of utility (piped) gas was $1.634 per therm, up from its average price of $1.068 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
The $5.027 per gallon Chicago households paid for gasoline in May 2022 was 33.2 cents more than the nationwide average of $4.695. In the previous four years in May (2018-2021), gasoline prices in the Chicago area were as much as 22.0 cents more per gallon than the U.S. average. (See chart 1.)
The 15.9 cents per kWh that Chicago households paid for electricity in May 2022 was similar to the national average cost of 15.4 cents per kWh. In the past four years in May (2018-2021), Chicago area electricity costs were higher than the national average, ranging from 4.3 percent to 18.4 percent more. (See chart 2.)
Prices paid by Chicago area households for utility (piped) gas, commonly referred to as natural gas, were $1.634 per therm in May 2022, 4.4 percent more than the national average of $1.565 per therm. In the previous four years (2018-2021) in May, Chicago area utility (piped) gas costs were lower than the national average by as much as 27.4 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 June 2022 is scheduled to be released on Wednesday, July 13, 2022.
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; Telecommunications Relay Service: 7-1-1.
|Year and month||Gasoline per gallon||Electricity per kWh||Utility (piped) gas per therm|
|United States||Chicago area||United States||Chicago area||United States||Chicago area|
Last Modified Date: Wednesday, June 15, 2022