Average Price: Gasoline, Unleaded Premium (Cost per Gallon/3.785 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A74716 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.63
Year-over-Year Change
-8.35%
Date Range
9/1/1981 - 6/1/2025
Summary
This trend measures the average price of unleaded premium gasoline per gallon in the Chicago-Naperville-Elgin metropolitan area. It provides important insights into regional fuel costs and consumer spending patterns.
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, Unleaded Premium metric tracks the average retail price per gallon of premium-grade gasoline in the Chicago metropolitan statistical area. This data point is a key indicator for economists and policymakers monitoring energy costs and their impact on local and regional economies.
Methodology
The data is collected through surveys of fuel retailers in the Chicago-Naperville-Elgin region.
Historical Context
This trend is used to assess energy price inflation and its effects on consumer behavior and business operations.
Key Facts
- Gasoline is a major household expense for many Chicago-area residents.
- Premium fuel costs tend to be higher than regular grades in the region.
- Prices can fluctuate significantly based on global oil market conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price per gallon of unleaded premium gasoline in the Chicago metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This data point is important for understanding regional energy costs and their impact on consumer spending and business operations.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel retailers in the Chicago-Naperville-Elgin metropolitan statistical area.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess energy price inflation and its effects on the local and regional economy.
Q: Are there update delays or limitations?
A: The data is published with a short lag time and may not fully capture rapid price changes in the market.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Unleaded Premium (Cost per Gallon/3.785 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A74716), retrieved from FRED.