Average Price: Gasoline, Unleaded Midgrade (Cost per Gallon/3.785 Liters) in Detroit-Warren-Dearborn, MI (CBSA)
This dataset tracks average price: gasoline, unleaded midgrade (cost per gallon/3.785 liters) in detroit-warren-dearborn, mi (cbsa) over time.
Latest Value
3.78
Year-over-Year Change
-7.08%
Date Range
12/1/1993 - 6/1/2025
Summary
The 'Average Price: Gasoline, Unleaded Midgrade (Cost per Gallon/3.785 Liters) in Detroit-Warren-Dearborn, MI (CBSA)' trend measures the average retail price of regular unleaded gasoline in the Detroit metropolitan area. This metric is a key indicator of consumer fuel costs and economic activity.
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
This series tracks the average price per gallon of midgrade unleaded gasoline in the Detroit-Warren-Dearborn metropolitan statistical area. It provides a localized measure of fuel costs, which are a major component of household and business expenditures. Economists and policymakers use this data to assess consumer purchasing power, inflation, and broader economic conditions.
Methodology
The data is collected through surveys of retail gasoline stations in the Detroit metro area.
Historical Context
Gasoline prices are closely monitored by policymakers, businesses, and consumers as an indicator of economic conditions and spending power.
Key Facts
- Detroit is the largest city in Michigan and a major manufacturing hub.
- Gasoline is a significant household expense, accounting for over 3% of consumer spending.
- Midgrade unleaded fuel is a common grade used by passenger vehicles.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of midgrade unleaded gasoline in the Detroit-Warren-Dearborn metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key indicator of consumer costs and economic activity, making this metric important for assessing household purchasing power and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail gasoline stations in the Detroit metro area.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and consumers monitor gasoline prices as an indicator of inflation, consumer spending, and broader economic conditions.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting, and the series only covers the Detroit metropolitan area.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Unleaded Midgrade (Cost per Gallon/3.785 Liters) in Detroit-Warren-Dearborn, MI (CBSA) (APUS23B74715), retrieved from FRED.