April 16, 2020
Gasoline prices averaged $2.366 per gallon in the Chicago-Naperville-Elgin area in March 2020, the U.S. Bureau of Labor Statistics reported today. Assistant Commissioner for Regional Operations Charlene Peiffer noted that area gasoline prices were down 39.5 cents compared to March 2019 when they averaged $2.761 per gallon. Chicago area households paid an average of 14.3 cents per kilowatt-hour (kWh) of electricity in March 2020, less than the 16.1 cents in March 2019. In March, the average cost of utility (piped) gas was 75.7 cents per therm, less than its average price of 77.2 cents per therm a year earlier. (Data in this release are not seasonally adjusted; accordingly, over-the-year-analysis is used throughout.)
The $2.366 per gallon Chicago households paid for gasoline in March 2020 was more than the nationwide average of $2.334. In the previous four years in March (2016-2019), Chicago area gasoline prices ranged from 7.0 cents to 14.1 cents more than the national average. (See chart 1.)
The 14.3 cents per kWh that Chicago households paid for electricity in March 2020 was 6.7 percent more than the nationwide average cost of 13.4 cents per kWh. Average electricity costs in Chicago were higher than the national average in the previous four years (2016-2019) in March, ranging from 14.9 percent to 19.3 percent more.
Picture Source: Get Stencil
