Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the West Census Region - Size Class A
APUS40072511 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.05
Year-over-Year Change
-21.47%
Date Range
11/1/1978 - 4/1/2016
Summary
This economic trend measures the average price of fuel oil #2 per gallon (3.785 liters) in the West Census Region for size class A. It provides insight into residential heating oil costs in the western United States.
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 fuel oil #2 price trend tracks the cost of a common heating fuel used in homes and businesses. This data is valuable for understanding regional variations in energy expenses and the impact of factors like supply, demand, and geopolitics on consumer energy prices.
Methodology
The data is collected through surveys of fuel oil retailers in the West Census Region.
Historical Context
Fuel oil prices are monitored by policymakers, analysts, and consumers to assess energy affordability and the state of the residential heating market.
Key Facts
- Fuel oil #2 is a common heating fuel for homes and small businesses.
- The West Census Region includes 13 states from the Pacific to the Rockies.
- Size class A refers to small residential and commercial consumers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of fuel oil #2 per gallon in the West Census Region, specifically for small residential and commercial consumers (size class A).
Q: Why is this trend relevant for users or analysts?
A: Fuel oil prices are an important indicator of residential energy costs and heating affordability in the western United States. This data is monitored by policymakers, economists, and consumers to understand regional energy market dynamics.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel oil retailers in the West Census Region.
Q: How is this trend used in economic policy?
A: Fuel oil prices are used by policymakers, analysts, and consumers to assess energy affordability and the state of the residential heating market. This information informs decision-making on energy policy, social programs, and household budgeting.
Q: Are there update delays or limitations?
A: There may be lags in data reporting due to the survey collection process, and the trend does not capture all size classes or regions.
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Citation
U.S. Federal Reserve, Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the West Census Region - Size Class A (APUS40072511), retrieved from FRED.