Wednesday, July 19, 2023
Gasoline prices averaged $4.319 per gallon in the Chicago-Naperville-Elgin area in June 2023, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Jason Palmer noted that area gasoline prices were down $1.495 compared to June 2022, when they averaged $5.814 per gallon. Chicago area households paid an average of 16.6 cents per kilowatt-hour (kWh) of electricity in June 2023, up from the 14.6 cents per kilowatt-hour paid in June 2022. In June, the average cost of utility (piped) gas was $0.962 per therm, lower than the $1.772 per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
The $4.319 per gallon Chicago area households paid for gasoline in June 2023 was 49.8 cents more than the nationwide average of $3.821. Over the past five Junes, gasoline prices in the Chicago area have ranged from 18.0 cents more to 66.5 cents more than the national average. (See chart 1.)
The 16.6 cents per kWh that Chicago area households paid for electricity in June 2023 was comparable to the national average cost of 17.0 cents per kWh. In the previous five years during the month of June, electricity costs in the Chicago area have ranged from 8.8 percent less to 15.8 percent more than the national average. (See chart 2.)
Prices paid by Chicago area households for utility (piped) gas, commonly referred to as natural gas, were $0.962 per therm in June 2023, 29.8 percent less than the national average of $1.371 per therm. Utility (piped) gas prices in the Chicago area have ranged from 29.8 percent less to 4.3 percent more than the national average over the previous five Junes. (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 July 2023 is scheduled to be released on Thursday, August 10, 2023.
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|
|4.768||5.364||(R) 0.164||(R) 0.147||1.629||1.762|
Last Modified Date: Wednesday, July 19, 2023