Average Energy Prices In The Chicago Area – October 2012

 

Average Energy Prices In The Chicago Area – October 2012

 

Chicago area consumers paid 21.1 percent more for electricity than the U.S. city average but paid 21.4 percent less than the nation for utility (piped) gas in October 2012, as measured by the Consumer Price Index (CPI), the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Charlene Peiffer noted that the percent difference in prices between the area and the nation for utility (piped) gas widened as local prices fell faster than the national average. (See table A.) (Data in this release are not seasonally adjusted; accordingly, over-the-year analysis is used throughout.)

Table A. Average prices for electricity, gasoline, and utility (piped) gas, United States and Chicago area, October 2011 and October 2012, not seasonally adjusted
	October 2011			October 2012
	United States	Chicago area	Percent difference	United States	Chicago area	Percent difference
Electricity (per Kwh)	$0.130	$0.154	18.5	$0.128	$0.155	21.1
Gasoline per gallon	3.521	3.561	1.1	3.839	3.962	3.2
Utility (piped) gas per therm	1.047	0.855	-18.3	0.962	0.756	-21.4
NOTE: A positive percent difference measures how much the price in the Chicago area is above the national price, while a negative difference reflects a lower price in the Chicago area.

 

A kilowatt-hour (kWh) of electricity cost $0.155 in the Chicago area and $0.128 nationwide in October 2012, both little changed from their prices a year earlier. Over the past five years, local electricity prices have been higher than the U.S. city average. (See chart 1.)

In October 2012, a gallon of gasoline cost $3.962 in the Chicago area compared to the national average of $3.839. Over the year, area gasoline prices rose 11.3 percent and nationwide by 9.0 percent. Local and national gasoline prices have largely moved in tandem over the past five years. (See chart 2.)

A therm—a measure of constant heating value—of utility (piped) gas, commonly referred to as natural gas, in the Chicago area averaged $0.756 in October 2012, down 11.6 percent from one year earlier. Nationwide, a therm averaged $0.962 in October 2012, down 8.1 percent over the year. With a few exceptions over the past five years, Chicago utility (piped) gas prices have remained below the national average. (See chart 3.)

The Chicago-Gary-Kenosha, IL-IN-WI, Consolidated Metropolitan Statistical Area (CMSA) consists of Cook, De Kalb, Du Page, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, and Will Counties, in Illinois; Lake and Porter Counties in Indiana; and Kenosha County in Wisconsin.

Technical Note

Average prices for electricity, utility (piped) gas, and gasoline are published monthly for the U.S. city average, the 4 regions, the 3 population size classes, 10 region/size-class cross-classifications, and the 14 largest local index areas.  For electricity, average prices per kilowatt-hour (kWh) and per 500 kWh are published.  For utility (piped) gas, average prices per therm, per 40 therms, and per 100 therms 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.

Price quotes for 40 therms and 100 therms of utility (piped) gas and for 500 kWh of electricity are collected in sample outlets for use in the average price programs only.  Since they are for specified consumption amounts, they are not used in the CPI.  All other price quotes used for average price estimation are regular CPI data.

With the exception of the 40 therms, 100 therms, and 500 kWh price quotes, 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.

Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.

 

Table 1. Average prices for electricity, gasoline, and utility (piped) gas, United States and Chicago area, October 2011-October 2012, not seasonally adjusted
Year and Month	Electricity per kWh		Gasoline per gallon		Utility (piped) gas per therm
	United States	Chicago area	United States	Chicago area	United States	Chicago area
2011
October	$0.130	$0.154	$3.521	$3.561	$1.047	$0.855
November	0.128	0.150	3.475	3.583	1.044	0.818
December	0.127	0.147	3.329	3.432	1.034	0.822
2012
January	0.128	0.153	3.447	3.618	1.021	0.782
February	0.128	0.153	3.622	3.635	0.986	0.704
March	0.127	0.153	3.918	4.215	0.978	0.689
April	0.127	0.153	3.976	4.278	0.951	0.640
May	0.129	0.153	3.839	4.161	0.907	0.599
June	0.135	0.148	3.602	3.903	0.927	0.674
July	0.133	0.142	3.502	3.747	0.943	0.697
August	0.133	0.142	3.759	4.220	0.960	0.737
September	0.133	0.142	3.908	4.278	0.953	0.755
October	0.128	0.155	3.839	3.962	0.962	0.756

 

Last Modified Date: December 11, 2012