Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in Cleveland-Akron, OH (CBSA)
APUA21074714 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.29
Year-over-Year Change
7.30%
Date Range
1/1/1978 - 12/1/2017
Summary
This trend measures the average price of unleaded regular gasoline per gallon in the Cleveland-Akron, OH metropolitan area. It is a key economic indicator for monitoring consumer prices and energy costs.
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 Regular trend represents the average retail price paid by consumers for a gallon of unleaded regular gasoline in the Cleveland-Akron, OH metro area. This data is used by economists and policymakers to analyze trends in consumer spending and the broader cost of living.
Methodology
The data is collected through surveys of retail gasoline stations by the U.S. Bureau of Labor Statistics.
Historical Context
Gasoline prices are closely watched as they impact household budgets and the broader economy.
Key Facts
- Gasoline is the single largest household expenditure after housing and food.
- Prices can fluctuate significantly based on global supply and demand factors.
- Monitoring local gasoline prices helps assess the economic health of a region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price paid by consumers for a gallon of unleaded regular gasoline in the Cleveland-Akron, OH metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key component of consumer spending and the broader cost of living, making this trend important for economists and policymakers analyzing economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail gasoline stations by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Gasoline prices are closely watched by policymakers and markets as they impact household budgets and the broader economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, providing timely insights on consumer gasoline costs.
Related Trends
Average Price: Grapes, Thompson Seedless (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000711417
Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in the Midwest Census Region - Size Class B/C
APUN2007471A
Average Price: Cookies, Chocolate Chip (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200702421
Average Price: Butter, Stick (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200FS1101
Average Price: Electricity per 500 Kilowatt-Hour in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (CBSA)
APUS12B72621
Average Price: Ice Cream, Prepackaged, Bulk, Regular, per One-Half Gallon (1.9 Liters) in U.S. City Average
APU0000710411
Citation
U.S. Federal Reserve, Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in Cleveland-Akron, OH (CBSA) (APUA21074714), retrieved from FRED.