Average Price: Gasoline, Unleaded Premium (Cost per Gallon/3.785 Liters) in the West North Central Census Division
APU024074716 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.67
Year-over-Year Change
-5.11%
Date Range
1/1/2018 - 6/1/2025
Summary
This economic trend measures the average price of unleaded premium gasoline in the West North Central Census Division of the United States. It is a key indicator of consumer costs and a critical input for economic analysis and policymaking.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Average Price: Gasoline, Unleaded Premium (Cost per Gallon/3.785 Liters) in the West North Central Census Division represents the average retail price paid by consumers for a gallon of premium unleaded gasoline in this Midwest region. This metric is widely used to track changes in energy costs and their impact on consumer spending and inflation.
Methodology
The data is collected through surveys of gasoline retailers by the U.S. Energy Information Administration.
Historical Context
This trend provides important context for analyzing the state of the U.S. economy and consumer markets.
Key Facts
- Premium gas prices in the West North Central region averaged $3.47 per gallon in 2022.
- Gasoline costs account for a significant portion of household budgets in the Midwest.
- Prices can fluctuate widely due to factors like refinery capacity, supply chain disruptions, and global oil markets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of unleaded premium gasoline per gallon in the West North Central Census Division of the United States.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a critical component of consumer costs and a key input for analyzing inflation, consumer spending, and the broader state of the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of gasoline retailers by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the impact of energy costs on consumer behavior, inflation, and the overall health of regional and national economies.
Q: Are there update delays or limitations?
A: The data is published on a weekly basis, but there may be lags in reporting due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Unleaded Premium (Cost per Gallon/3.785 Liters) in the West North Central Census Division (APU024074716), retrieved from FRED.