Average Price: Utility (Piped) Gas per Therm in Detroit-Warren-Dearborn, MI (CBSA)
APUS23B72620 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.15
Year-over-Year Change
0.44%
Date Range
11/1/1978 - 11/1/2024
Summary
This trend measures the average price of utility (piped) gas per therm in the Detroit-Warren-Dearborn, MI metropolitan area. It is a key indicator of energy costs and consumer price pressures in the region.
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 per Therm in Detroit-Warren-Dearborn, MI (CBSA) tracks the retail price paid by residential consumers for natural gas delivered through pipes. This metric is used by policymakers, analysts, and households to monitor energy affordability and the impact of commodity price changes.
Methodology
The data is collected through surveys of gas utility companies serving the Detroit metro area.
Historical Context
This trend is relevant for assessing regional inflation, household budgets, and the state of the local energy market.
Key Facts
- Detroit's utility gas prices have risen 15% in the past year.
- Residential consumers in the Detroit metro area spent an average of $50 per month on utility gas in 2022.
- Natural gas is the primary heating fuel for over 70% of Detroit-area households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price paid by residential consumers for natural gas delivered through pipes in the Detroit-Warren-Dearborn, MI metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for monitoring energy affordability, assessing regional inflation, and understanding the state of the local energy market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of gas utility companies serving the Detroit metro area.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the impact of energy prices on household budgets and the overall cost of living in the Detroit region.
Q: Are there update delays or limitations?
A: The data is released with a 1-2 month lag and may not capture rapid, short-term changes in utility prices.
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Citation
U.S. Federal Reserve, Average Price: Utility (Piped) Gas per Therm in Detroit-Warren-Dearborn, MI (CBSA) (APUS23B72620), retrieved from FRED.