Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Size Class A
This dataset tracks average price: gasoline, leaded regular (cost per gallon/3.8 liters) in the midwest census region - size class a over time.
Latest Value
1.13
Year-over-Year Change
5.01%
Date Range
1/1/1978 - 4/1/1991
Summary
This trend measures the average price of leaded regular gasoline in the Midwest Census Region for size class A areas. It provides valuable insights into fuel costs, which are a key economic indicator and driver of consumer spending.
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, Leaded Regular (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Size Class A trend represents the average retail price paid by consumers for this specific type of gasoline in the Midwest region's largest metropolitan areas. It is a widely tracked metric used to assess energy inflation and its broader macroeconomic impacts.
Methodology
The data is collected through surveys of fuel retailers across the Midwest region.
Historical Context
This gasoline price trend is closely monitored by policymakers, analysts, and consumers to gauge inflationary pressures and consumer purchasing power.
Key Facts
- Gasoline is a major household expense in the Midwest.
- Prices can fluctuate significantly based on global oil market conditions.
- Tracking this trend helps economists assess cost-of-living changes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of leaded regular gasoline in the Midwest Census Region for the largest metropolitan areas, known as size class A.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key component of consumer spending and inflation, making this trend important for understanding broader economic conditions and their impact on household budgets.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel retailers across the Midwest region.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and consumers closely monitor this gasoline price trend to gauge inflationary pressures and assess the impact on consumer purchasing power.
Q: Are there update delays or limitations?
A: The data is reported on a regular schedule, but there may be some lags in reporting due to the survey-based data collection process.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Size Class A (APUS20074712), retrieved from FRED.