Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A7471A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.66
Year-over-Year Change
-11.89%
Date Range
1/1/1978 - 6/1/2025
Summary
This economic trend tracks the average price of gasoline per gallon in the Chicago-Naperville-Elgin metropolitan area. It is a key indicator of consumer costs and local market conditions.
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, All Types (Cost per Gallon/3.785 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) trend provides a localized measure of fuel prices, which are a significant component of household budgets and business operating costs.
Methodology
This data is collected through regular surveys of gasoline retailers in the Chicago metropolitan area.
Historical Context
Gasoline prices are closely monitored by policymakers, economists, and consumers as a gauge of inflationary pressures and consumer purchasing power.
Key Facts
- Gasoline accounts for over 3% of the average household budget.
- Prices can fluctuate significantly based on supply, demand, and taxes.
- The Chicago metro area is a major transportation and logistics hub.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average retail price of all grades of gasoline per gallon 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 costs and a barometer of regional economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of gasoline retailers in the Chicago metro area.
Q: How is this trend used in economic policy?
A: Policymakers monitor gasoline prices as an indicator of inflationary pressures and consumer purchasing power.
Q: Are there update delays or limitations?
A: This data is published with a short lag and may not fully capture rapid price changes.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A7471A), retrieved from FRED.