Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in Detroit-Warren-Dearborn, MI (CBSA)
APUS23B7471A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.32
Year-over-Year Change
-9.00%
Date Range
1/1/1978 - 6/1/2025
Summary
This economic trend measures the average price of gasoline in the Detroit-Warren-Dearborn, MI metropolitan area. It provides important insight into consumer costs and inflation pressures.
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 Detroit-Warren-Dearborn, MI (CBSA) tracks the average price paid per gallon of gasoline in this major U.S. metropolitan region. It is a key indicator of consumer price levels and transportation costs.
Methodology
The data is collected through surveys of gasoline retailers in the region.
Historical Context
This trend is widely used by policymakers, economists, and market analysts to assess the state of the regional and national economy.
Key Facts
- Gasoline accounts for a significant portion of household budgets.
- Prices can fluctuate widely due to global oil market dynamics.
- This trend provides granular regional data not available in national averages.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price paid per gallon of gasoline in the Detroit-Warren-Dearborn, MI metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key component of consumer price inflation and have a significant impact on household budgets and transportation costs. This regional data provides important insights for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of gasoline retailers in the Detroit-Warren-Dearborn, MI metropolitan area.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and market analysts to assess the state of the regional and national economy, as gasoline prices have broad implications for consumer spending, inflation, and transportation costs.
Q: Are there update delays or limitations?
A: The data is published regularly with minimal delays, providing timely insights into regional gasoline price trends.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in Detroit-Warren-Dearborn, MI (CBSA) (APUS23B7471A), retrieved from FRED.