Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in Minneapolis-St. Paul-Bloomington, MN-WI (CBSA)
APUS24A72511 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.78
Year-over-Year Change
-30.71%
Date Range
11/1/1978 - 12/1/1986
Summary
This economic trend measures the average price of fuel oil #2 per gallon in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. It provides valuable insights into energy costs and consumer price dynamics.
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: Fuel Oil #2 per Gallon (3.785 Liters) in Minneapolis-St. Paul-Bloomington, MN-WI (CBSA) trend represents the average retail price paid by consumers for heating oil in this major Midwestern market. It is a key indicator for analyzing regional energy expenditures and the cost of living.
Methodology
The data is collected through surveys of fuel retailers in the metropolitan area.
Historical Context
This trend is closely monitored by policymakers, energy analysts, and consumers to assess market conditions and the impact of energy prices.
Key Facts
- Fuel oil #2 is a common heating fuel used in the Midwest.
- Minneapolis-St. Paul is a major metropolitan area in Minnesota.
- Heating costs are a significant household expense in cold-weather regions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of fuel oil #2 per gallon in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into energy costs and consumer price dynamics in a major Midwestern market, which is valuable information for policymakers, energy analysts, and households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel retailers in the metropolitan area.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers to assess market conditions and the impact of energy prices on the cost of living and consumer spending.
Q: Are there update delays or limitations?
A: The data is published with a short delay and may be subject to revisions based on updated information from retailers.
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Citation
U.S. Federal Reserve, Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in Minneapolis-St. Paul-Bloomington, MN-WI (CBSA) (APUS24A72511), retrieved from FRED.