Bureau of Labor Statistics
| Internet: www.bls.gov/ro5/ | FOR IMMEDIATE RELEASE: |
| GENERAL INFORMATION: (312) 353-1880 | Monday, August 4, 2008 |
| MEDIA CONTACT: Paul LaPorte | |
| (312) 353-1138 |
Chicago area consumers paid more for electricity (9.4 percent) and gasoline (2.5 percent) than the U.S. city average in June 2008, while the price of utility (piped) gas was similar to the average price for the nation as measured by the Consumer Price Index, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Regional Commissioner Jay A. Mousa noted that with few exceptions, the local area has continued to experience above-average costs for gasoline and electricity over the last 10 years. (See table A.)
| Year | Electricity per kWh | Gasoline per gallon | Utility (piped) gas per therm | ||||||
|---|---|---|---|---|---|---|---|---|---|
| United States | Chicago | Percent Difference | United States | Chicago | Percent Difference | United States | Chicago | Percent Difference | |
1998 |
$0.091 | $0.128 | 40.7 | $1.148 | $1.256 | 9.4 | $0.673 | $0.497 | -26.2 |
1999 |
0.089 | 0.111 | 24.7 | 1.204 | 1.260 | 4.7 | 0.667 | 0.478 | -28.3 |
2000 |
0.090 | 0.111 | 23.3 | 1.666 | 2.175 | 30.6 | 0.781 | 0.672 | -14.0 |
2001 |
0.097 | 0.114 | 17.5 | 1.731 | 1.875 | 8.3 | 0.937 | 0.804 | -14.2 |
2002 |
0.095 | 0.109 | 14.7 | 1.489 | 1.617 | 8.6 | 0.771 | 0.719 | -6.7 |
2003 |
0.097 | 0.108 | 11.3 | 1.558 | 1.655 | 6.2 | 0.992 | 0.945 | -4.7 |
2004 |
0.099 | 0.109 | 10.1 | 2.083 | 2.070 | -0.6 | 1.047 | 0.996 | -4.9 |
2005 |
0.104 | 0.108 | 3.8 | 2.218 | 2.251 | 1.5 | 1.124 | 1.018 | -9.4 |
2006 |
0.118 | 0.109 | -7.6 | 2.963 | 3.029 | 2.2 | 1.210 | 0.905 | -25.2 |
2007 |
0.122 | 0.131 | 7.4 | 3.100 | 3.419 | 10.3 | 1.299 | 1.174 | -9.6 |
2008 |
0.128 | 0.140 | 9.4 | 4.115 | 4.217 | 2.5 | 1.578 | 1.580 | 0.1 |
A kilowatt-hour (kWh) of electricity cost Chicago area consumers $0.140 in June 2008, 6.9 percent higher than one year earlier and 28.4 percent higher than in 2006. Nationwide, electricity prices averaged $0.128 in June 2008, increasing 4.9 percent over the year and 8.5 percent over the two-year span. Still, the differential between the costs of electricity in Chicago versus the nation has fallen over the last decade. In 1998, electricity prices were 40.7 percent higher in Chicago than in the United States, but by June 2008, the differential had dropped to 9.4 percent. (See chart A.)
In June 2008, the average price of a gallon of gas in the Chicago area was $4.217, up $0.798 or 23.3 percent over the year. Moreover, the cost of gasoline locally has more than doubled in the last four years. Nationally, a similar trend can be observed with gasoline prices increasing 32.7 percent from June a year ago. Since 1998, the cost of gasoline in the Chicago area has been, with one exception, above the national average in June. (See chart B.)
A therm—a measure of constant heating value—of utility (piped) gas, commonly referred to as natural gas, in the Chicago area averaged $1.580 in June 2008. Locally, the cost of natural gas has risen 34.6 percent over the year and 74.6 percent in two years. Nationwide, natural gas cost 21.5 percent more in June 2008 than it did one year earlier. However, with the exception of June 2008, local natural gas prices have been below the national price level each June since 1998. (See chart C.)
Chart A. Average prices for electricity, United States and Chicago-Gary-Kenosha area, June 1998-2008
Chart B. Average prices for gasoline, United States and Chicago-Gary-Kenosha area, June 1998-2008
Chart C. Average prices for utility (piped) gas, United States and Chicago-Gary-Kenosha area, June 1998-2008
The Chicago-Gary-Kenosha, IL-IN-WI, Consolidated Metropolitan Statistical Area (CMSA) is comprised 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.
Additional information
Information in this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200; TDD message referral phone number: 1-800-877-8339.
For personal assistance or further information on CPI data, as well as other Bureau data, contact the Midwest Information Office at 312-353-1880 from 8:00 a.m. to 4:00 p.m., Central Time.
Technical Information
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.
Last Modified Date: August 4, 2008
