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News Release Information

24-1040-CHI
Thursday, May 23, 2024

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

Average Energy Prices, Chicago-Naperville-Elgin – April 2024

Gasoline prices averaged $4.202 a gallon in the Chicago-Naperville-Elgin area in April 2024, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Jason Palmer noted that area gasoline prices were comparable to last April when they averaged $4.250 per gallon. The average cost of utility (piped) gas was 99.1 cents per therm in April, similar to the 99.9 cents per therm paid 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 at $4.202 in April 2024, was 29.5 cents higher than the national average of $3.907 a gallon. Over the past five Aprils, gasoline prices in the Chicago area have ranged from $4.546 to $1.936 per gallon. (See chart 1.)


Prices paid by Chicago area consumers for utility (piped) gas, commonly referred to as natural gas, were 99.1 cents per therm in April 2024, 38.4 cents less than the national average of $1.375 per therm. Over the past five Aprils, Chicago area utility (piped) gas prices have ranged from 41.4 cents to 12.9 cents less per therm than the national average. (See chart 2.)


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 www.bls.gov/regions/midwest/data/averageenergyprices_selectedareas_table.htm.

The May 2024 Consumer Price Index is scheduled to be released on Wednesday, June 12, 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, April 2023–April 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

April

$3.839 $4.250 $0.165 $0.180 $1.413 $0.999

May

3.794 4.231 0.165 0.178 1.385 0.984

June

3.821 4.319 0.170 0.166 1.371 0.962

July

3.842 4.172 0.169 0.162 1.395 0.975

August

4.064 4.388 0.170 0.156 1.402 0.991

September

4.107 4.169 0.171 0.162 1.377 0.992

October

3.910 3.804 0.169 0.160 1.388 0.997

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 1.452 1.005

February

3.486 3.583 0.173 1.465 1.040

March

3.707 4.009 0.174 1.429 1.015

April

3.907 4.202 0.173 1.375 0.991

Note: Dash (–) indicates no data available.

 

Last Modified Date: Thursday, May 23, 2024