Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A74712 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.17
Year-over-Year Change
18.64%
Date Range
1/1/1978 - 5/1/1989
Summary
This economic trend measures the average price of leaded regular gasoline per gallon in the Chicago-Naperville-Elgin metropolitan area. It provides valuable insights into the local cost of fuel, which is a key component of consumer spending and transportation 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, Leaded Regular trend represents the average cost per gallon of leaded regular gasoline in the Chicago-Naperville-Elgin, IL-IN-WI Combined Statistical Area (CBSA). This metric is closely watched by economists and policymakers as it reflects local consumer price dynamics and inflationary pressures.
Methodology
The data is collected through surveys of retail gasoline stations in the Chicago region.
Historical Context
This trend is used to analyze regional fuel price trends and their impact on consumer behavior and the local economy.
Key Facts
- Chicago gasoline prices are typically higher than the national average.
- Leaded regular fuel makes up a small and declining share of total gasoline sales.
- Gasoline prices are a major component of the Consumer Price Index (CPI)
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per gallon of leaded regular gasoline in the Chicago-Naperville-Elgin metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key component of consumer spending and transportation costs, making this trend important for understanding regional economic conditions and inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail gasoline stations in the Chicago metropolitan area.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze regional fuel price dynamics and their impact on consumer behavior and the local economy.
Q: Are there update delays or limitations?
A: The data is reported with a short delay, typically within a few weeks of the reference period.
Related Trends
Average Price: Lettuce, Romaine (Cost per Pound/453.6 Grams) in the West Census Region - Urban
APU0400FL2101
Average Price: Electricity per 500 Kilowatt-Hour in Cleveland-Akron, OH (CBSA)
APUA21072621
Average Price: All Uncooked Ground Beef (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200FC1101
Average Price: Round Roast, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200703312
Average Price: Utility (Piped) Gas - 100 Therms in San Diego-Carlsbad, CA (CBSA)
APUS49E72611
Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in the Midwest Census Region - Size Class B/C
APUN2007471A
Citation
U.S. Federal Reserve, Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A74712), retrieved from FRED.