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News Release Information

Friday, November 24, 2023

Contacts Technical information: Media contact:
  • (312) 353-1138

Average Energy Prices, Chicago-Naperville-Elgin – October 2023

Gasoline prices averaged $3.804 a gallon in the Chicago-Naperville-Elgin area in October 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Jason Palmer noted that area gasoline prices were down 70.9 cents compared to last October when they averaged $4.513 per gallon. Chicago area households paid an average of 16.0 cents per kilowatt hour (kWh) of electricity in October 2023, up from 13.2 cents per kWh in October 2022. The average cost of utility (piped) gas at 99.7 cents per therm in October was down from $1.721 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)

The cost of a gallon of gasoline in the Chicago area was $3.804 in October 2023, compared to the national average of $3.910 a gallon. Last October, gasoline costs in Chicago were 38.3 cents higher than the national average. Over the past five Octobers, gasoline prices in the Chicago area have ranged from $4.513 to $2.253 per gallon. (See chart 1.)

The 16.0 cents per kWh that Chicago households paid for electricity in October 2023 was 5.3 percent lower than the nationwide average cost of 16.9 cents per kWh. Last October, electricity costs in Chicago were 13.2 cents per kWh, 20.5 percent lower than the national average of 16.6 cents. Over the past five Octobers, Chicago area electricity prices have ranged from 16.6 cents to 13.2 cents per kWh. (See chart 2.)

Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were 99.7 cents per therm in October 2023, 39.1 cents less than the national average of $1.388 per therm. Last October, utility (piped) gas prices in Chicago were comparable to the nation. Over the past five Octobers, Chicago area utility (piped) gas prices have ranged from $1.721 to 76.7 cents per therm. (See chart 3.)

The Chicago-Naperville-Elgin, IL-IN-WI Metropolitan Statistical Area consists of Cook, De Kalb, Du Page, 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

The November 2023 Consumer Price Index is scheduled to be released on Tuesday, December 12, 2023, at 7:30 a.m. (CT).

Technical Note

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.

Table 1. Average prices for gasoline, electricity, and utility (piped) gas, the United States and Chicago-Naperville-Elgin, IL-IN-WI, October 2022–October 2023, not seasonally adjusted
Year and monthGasoline per gallonElectricity per kWhUtility (piped) gas per therm
United StatesChicago areaUnited StatesChicago areaUnited StatesChicago area






























Last Modified Date: Friday, November 24, 2023