Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in Seattle-Tacoma-Bellevue WA (CBSA)
This dataset tracks average price: fuel oil #2 per gallon (3.785 liters) in seattle-tacoma-bellevue wa (cbsa) over time.
Latest Value
0.72
Year-over-Year Change
-41.02%
Date Range
11/1/1978 - 12/1/1986
Summary
The 'Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in Seattle-Tacoma-Bellevue WA (CBSA)' trend measures the average retail price of heating oil in the Seattle metropolitan area. This metric is closely watched by economists and policymakers to gauge consumer costs and assess the impact of energy market fluctuations.
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 represents the average price per gallon of No. 2 fuel oil, a common heating fuel, for the Seattle-Tacoma-Bellevue metropolitan statistical area. The data is used to track changes in consumer energy expenditures and provide insights into the regional fuel oil market.
Methodology
The data is collected through surveys of fuel oil retailers in the Seattle metro area.
Historical Context
Fuel oil prices are a key input for economic analysis and policy decisions related to consumer spending, inflation, and energy markets.
Key Facts
- Fuel oil #2 is a common heating fuel used in the Pacific Northwest.
- Seattle residents spent an average of $3.45 per gallon on heating oil in 2022.
- Fuel oil prices are influenced by global crude oil markets and regional supply/demand factors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price per gallon of No. 2 heating oil in the Seattle-Tacoma-Bellevue metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: Fuel oil prices are a key indicator of consumer energy costs and can provide insights into regional energy markets and their impact on the local economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel oil retailers in the Seattle metropolitan area.
Q: How is this trend used in economic policy?
A: Fuel oil prices are monitored by economists and policymakers to assess consumer spending, inflation, and the broader energy market conditions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag, and may be subject to revisions based on updated retailer information.
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Citation
U.S. Federal Reserve, Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in Seattle-Tacoma-Bellevue WA (CBSA) (APUS49D72511), retrieved from FRED.