Gasoline prices averaged $3.414 a gallon in the Chicago-Naperville-Elgin area in November 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Jason Palmer noted that area gasoline prices were down 25.0 cents compared to last November when they averaged $3.664 per gallon. Chicago area households paid an average of 15.8 cents per kilowatt hour (kWh) of electricity in November 2024, down from 16.4 cents per kWh in November 2023. The average cost of utility (piped) gas at $1.047 per therm in November was up from 98.6 cents 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 averaged $3.414 in November 2024 compared to the $3.315 per gallon national average. Over the past five Novembers, gasoline prices in the Chicago area have ranged from $4.300 to $2.176. (See chart 1.)

The 15.8 cents per kWh that Chicago households paid for electricity in November 2024 was 1.8 cents, or 10.2 percent, lower than the nationwide average cost of 17.6 cents per kWh. Last November, electricity costs in Chicago were 16.4 cents per kWh, compared to the national average of 16.8 cents. Over the past five Novembers, Chicago area electricity prices have ranged from 16.4 cents to 13.3 cents. (See chart 2.)

Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were $1.047 per therm in November 2024, 29.6 percent below the national average of $1.487 per therm. Utility (piped) gas prices in the Chicago area have ranged from $1.565 to $0.808 over the previous five Novembers. (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.

The Consumer Price Index for December 2024 is scheduled to be released on Friday, January 15, 2024, 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, November 2023–November 2024, not seasonally adjusted

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
2023
November	$3.623	$3.664	$0.168	$0.164	$1.442	$0.986
December	3.411	3.368	0.169	0.161	1.429	0.968
2024
January	3.353	3.326	0.173	0.174	1.452	1.005
February	3.486	3.583	0.173	0.177	1.465	1.040
March	3.707	4.009	0.174	0.177	1.429	1.015
April	3.907	4.202	0.173	0.178	1.375	0.991
May	3.885	4.233	0.175	0.186	1.369	1.000
June	3.729	4.155	0.178	0.168	1.407	1.031
July	3.747	4.226	0.178	0.167	1.408	1.057
August	3.648	4.092	0.177	0.167	1.401	1.054
September	3.478	3.729	0.178	0.168	1.399	1.017
October	3.412	3.635	0.177	0.167	1.422	1.026
November	3.315	3.414	0.176	0.158	1.487	1.047