Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the West Census Region - Size Class D
This dataset tracks average price: fuel oil #2 per gallon (3.785 liters) in the west census region - size class d over time.
Latest Value
0.61
Year-over-Year Change
-39.96%
Date Range
6/1/1979 - 12/1/1986
Summary
This economic trend measures the average price of fuel oil #2 per gallon (3.785 liters) in the West Census Region for homes classified as size class D. It provides valuable insights into the cost of heating oil, a key commodity for households and businesses.
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 the West Census Region - Size Class D trend tracks the retail price of heating oil for medium-sized homes in the Western United States. It is an important indicator of energy costs and household expenditures.
Methodology
The data is collected through a monthly survey of fuel oil retailers.
Historical Context
Policymakers and market analysts use this trend to understand energy price dynamics and their impact on consumer spending and inflation.
Key Facts
- Fuel oil #2 is a common heating fuel for homes and small businesses.
- The West Census Region includes 13 states in the western United States.
- Size class D refers to medium-sized homes between 1,500 and 2,499 square feet.
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) for medium-sized homes in the West Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into energy costs and household expenditures, which are key factors influencing consumer spending, inflation, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of fuel oil retailers across the United States.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to understand energy price dynamics and their impact on consumer spending and inflation, which informs economic decision-making.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical release lag of around two weeks.
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Citation
U.S. Federal Reserve, Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the West Census Region - Size Class D (APUD40072511), retrieved from FRED.