Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in Buffalo-Niagara Falls, NY (CBSA)
APUA10572511 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.73
Year-over-Year Change
-31.96%
Date Range
11/1/1978 - 12/1/1986
Summary
This economic trend measures the average price of fuel oil #2 per gallon (3.785 liters) in the Buffalo-Niagara Falls, NY metropolitan area. It provides valuable insights into energy costs and consumer price dynamics in the region.
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: Fuel Oil #2 per Gallon (3.785 Liters) in Buffalo-Niagara Falls, NY (CBSA) tracks the retail price of a key home heating and transportation fuel. This data series is used by economists, policymakers, and analysts to monitor regional energy price trends and their impact on consumer spending and inflation.
Methodology
The data is collected through surveys of fuel oil retailers in the Buffalo-Niagara Falls metropolitan area.
Historical Context
This price trend is relevant for understanding regional energy markets and consumer purchasing power.
Key Facts
- Fuel oil #2 is a common home heating fuel.
- The Buffalo-Niagara Falls metro area has a population of over 1 million.
- Energy costs are a significant component of regional consumer price indices.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of fuel oil #2 per gallon (3.785 liters) in the Buffalo-Niagara Falls, NY metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides important insights into regional energy costs and consumer price dynamics, which are key factors for understanding economic conditions and consumer purchasing power.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel oil retailers in the Buffalo-Niagara Falls metropolitan area.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and analysts to monitor regional energy price movements and their impact on consumer spending and inflation.
Q: Are there update delays or limitations?
A: The data is published regularly, but there may be some delays in reporting due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in Buffalo-Niagara Falls, NY (CBSA) (APUA10572511), retrieved from FRED.