Average Price: Gasoline, Unleaded Premium (Cost per Gallon/3.785 Liters) in Washington, DC-MD-VA (CBSA)
This dataset tracks average price: gasoline, unleaded premium (cost per gallon/3.785 liters) in washington, dc-md-va (cbsa) over time.
Latest Value
1.36
Year-over-Year Change
-7.10%
Date Range
9/1/1981 - 12/1/1997
Summary
This economic trend measures the average price of unleaded premium gasoline in the Washington, DC-MD-VA metropolitan area. It is a key indicator of consumer costs and energy price inflation.
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 of unleaded premium gasoline is a widely tracked metric that reflects changes in fuel costs for households and businesses. This data series provides a localized view of gasoline prices within the Washington, DC-MD-VA combined statistical area.
Methodology
The data is collected through surveys of retail gasoline stations and calculated as the average price per gallon.
Historical Context
Gasoline prices are closely monitored by policymakers, economists, and consumers as they impact overall inflation, consumer spending, and transportation costs.
Key Facts
- Washington, DC-MD-VA is a major metropolitan area with high gasoline demand.
- Unleaded premium gasoline is a common fuel type for many passenger vehicles.
- Gasoline prices are a significant component of overall consumer price inflation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of unleaded premium gasoline in the Washington, DC-MD-VA combined statistical area.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key indicator of energy and transportation costs for households and businesses, making this trend important for understanding consumer price inflation and household spending patterns.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail gasoline stations and calculated as the average price per gallon.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts monitor gasoline prices closely as they impact overall inflation, consumer spending, and transportation costs, which are important considerations for economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: This data series is updated regularly by the Federal Reserve, but may have a short delay between the reference period and publication.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Unleaded Premium (Cost per Gallon/3.785 Liters) in Washington, DC-MD-VA (CBSA) (APUA31574716), retrieved from FRED.