Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in Scranton, PA (CBSA)
APUA1067471A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.83
Year-over-Year Change
-32.60%
Date Range
1/1/1978 - 12/1/1986
Summary
This economic trend measures the average price of gasoline in Scranton, Pennsylvania. It is a key indicator of consumer spending and inflationary pressures in the local economy.
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, All Types (Cost per Gallon/3.785 Liters) in Scranton, PA (CBSA) trend tracks the retail price of different grades of gasoline sold to consumers in the Scranton metropolitan area. This metric is widely used by economists, policymakers, and consumers to monitor changes in energy costs and understand their broader economic implications.
Methodology
The data is collected through surveys of fuel retailers in the Scranton region.
Historical Context
Gasoline prices directly impact household budgets and are closely watched for their effects on consumer confidence and spending.
Key Facts
- Gasoline is one of the largest household expenses for many consumers.
- Price changes can significantly impact discretionary spending and inflation.
- Scranton is a key industrial and transportation hub in Northeastern Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of different grades of gasoline sold to consumers in the Scranton, Pennsylvania metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a crucial indicator of consumer spending, household budgets, and broader inflationary pressures in the local economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel retailers in the Scranton region.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor gasoline prices to understand their impacts on consumer confidence, spending, and the broader economic conditions.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis with minimal delays, providing timely insights into local fuel price trends.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in Scranton, PA (CBSA) (APUA1067471A), retrieved from FRED.