Annual
This dataset tracks annual over time.
Latest Value
3.32
Year-over-Year Change
-6.42%
Date Range
1/1/1995 - 1/1/2024
Summary
The 'Annual' economic trend, as measured by the GASALLCOVRMA series, tracks the annual average price of all grades of retail gasoline in the United States. This important metric provides insight into consumer spending and energy market conditions.
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 GASALLCOVRMA series represents the annual average price per gallon of all grades of retail gasoline sold in the United States. This comprehensive national average is a key indicator used by economists, policymakers, and market analysts to assess consumer purchasing power, inflation, and energy policy impacts.
Methodology
The data is collected by the U.S. Energy Information Administration through surveys of fuel retailers across the country.
Historical Context
Trends in the annual average gasoline price are closely monitored for their influence on consumer behavior, transportation costs, and broader economic conditions.
Key Facts
- The annual average gasoline price reached a record high of $4.67 per gallon in 2022.
- Gasoline prices account for a significant portion of the average U.S. household's monthly expenditures.
- Changes in the annual gasoline price can impact consumer sentiment and spending patterns.
FAQs
Q: What does this economic trend measure?
A: The GASALLCOVRMA series tracks the annual average price per gallon of all grades of retail gasoline sold in the United States.
Q: Why is this trend relevant for users or analysts?
A: The annual average gasoline price is a crucial indicator of consumer purchasing power, transportation costs, and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Energy Information Administration through surveys of fuel retailers across the country.
Q: How is this trend used in economic policy?
A: Trends in the annual average gasoline price are closely monitored by policymakers and economists for their influence on consumer behavior, inflation, and energy policy decisions.
Q: Are there update delays or limitations?
A: The annual average gasoline price data is typically published with a short delay, and may be subject to revisions as more comprehensive information becomes available.
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Citation
U.S. Federal Reserve, Annual (GASALLCOVRMA), retrieved from FRED.