Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the Midwest Census Region - Size Class B/C
This dataset tracks average price: fuel oil #2 per gallon (3.785 liters) in the midwest census region - size class b/c over time.
Latest Value
3.22
Year-over-Year Change
-14.00%
Date Range
1/1/1998 - 7/1/2024
Summary
This economic trend measures the average price of fuel oil #2 per gallon (3.785 liters) in the Midwest Census Region for size class B/C. It provides insight into energy costs for consumers and businesses in the Midwest.
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 Midwest Census Region - Size Class B/C trend tracks the average price paid for this key home heating and industrial fuel. It is an important indicator of energy affordability and a factor in the cost of living and production for the Midwest region.
Methodology
The data is collected through surveys of fuel oil retailers in the Midwest.
Historical Context
This trend is used by policymakers, economists, and market analysts to understand energy price dynamics and their impact on the regional economy.
Key Facts
- Fuel oil is a key home heating source in the Midwest.
- Prices can fluctuate significantly based on global energy markets.
- Size class B/C represents small commercial and residential consumers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price paid per gallon of fuel oil #2 in the Midwest Census Region, specifically for size class B/C consumers (small commercial and residential).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into energy costs for a key heating and industrial fuel in the Midwest, which impacts the cost of living and production for consumers and businesses in the region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel oil retailers in the Midwest Census Region.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to understand energy price dynamics and their impact on the regional economy of the Midwest.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the trend only represents a specific size class of consumers in the Midwest region.
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Citation
U.S. Federal Reserve, Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the Midwest Census Region - Size Class B/C (APUN20072511), retrieved from FRED.