Average Price: Utility (Piped) Gas - 100 Therms in Detroit-Warren-Dearborn, MI (CBSA)
This dataset tracks average price: utility (piped) gas - 100 therms in detroit-warren-dearborn, mi (cbsa) over time.
Latest Value
90.01
Year-over-Year Change
1.75%
Date Range
11/1/1978 - 6/1/2013
Summary
This trend measures the average price of utility (piped) gas in Detroit-Warren-Dearborn, Michigan. It is an important indicator of energy costs and household expenditures for consumers in the metro area.
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: Utility (Piped) Gas - 100 Therms in Detroit-Warren-Dearborn, MI (CBSA) series tracks the average price charged to consumers for 100 therms of natural gas delivered through a utility network. This metric provides insight into residential energy costs and is closely monitored by economists and policymakers.
Methodology
The data is collected through surveys of utility providers in the Detroit metropolitan area.
Historical Context
This trend is used to assess household budgets, monitor inflation, and inform energy policy decisions.
Key Facts
- Natural gas is a major heating and electricity source for Detroit homes.
- Prices can fluctuate seasonally based on demand and supply factors.
- The trend helps policymakers understand household budget pressures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price paid by consumers for 100 therms of utility (piped) natural gas in the Detroit-Warren-Dearborn metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into household energy costs and the impact of natural gas prices on consumer budgets and inflation in the Detroit region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of utility providers in the Detroit metropolitan area.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess household budgets, monitor inflation, and inform energy policy decisions.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the trend is limited to the Detroit-Warren-Dearborn metropolitan area.
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Citation
U.S. Federal Reserve, Average Price: Utility (Piped) Gas - 100 Therms in Detroit-Warren-Dearborn, MI (CBSA) (APUS23B72611), retrieved from FRED.