Average Price: Gasoline, Unleaded Midgrade (Cost per Gallon/3.785 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A74715 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.13
Year-over-Year Change
-9.72%
Date Range
12/1/1993 - 6/1/2025
Summary
This economic trend measures the average price of unleaded midgrade gasoline per gallon in the Chicago-Naperville-Elgin metropolitan area. As a key consumer price metric, it provides insights into energy costs and inflation pressures.
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 midgrade gasoline represents the typical retail price paid by consumers in the Chicago region. This data series is widely used by economists, policymakers, and market analysts to assess consumer purchasing power, transportation costs, and the broader inflationary environment.
Methodology
The data is collected through surveys of gasoline retailers in the metropolitan area.
Historical Context
Gasoline prices are a significant component of the Consumer Price Index (CPI), making this trend relevant for Federal Reserve monetary policy decisions.
Key Facts
- Chicago gasoline prices peaked in June 2022 at $5.70 per gallon.
- Prices have fallen over 30% from the 2022 highs as of early 2023.
- Gasoline accounts for around 4% of the total U.S. Consumer Price Index.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of unleaded midgrade gasoline per gallon in the Chicago-Naperville-Elgin metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: As a key consumer price metric, this trend provides insights into energy costs, transportation expenses, and broader inflationary pressures in the Chicago region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of gasoline retailers in the Chicago metropolitan area.
Q: How is this trend used in economic policy?
A: Gasoline prices are a significant component of the Consumer Price Index (CPI), making this trend relevant for Federal Reserve monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Unleaded Midgrade (Cost per Gallon/3.785 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A74715), retrieved from FRED.