PADD III (Gulf Coast District) All Grades All Formulations Gas Price
Annual
GASALLGCA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.98
Year-over-Year Change
-14.34%
Date Range
1/1/1994 - 1/1/2024
Summary
The Annual trend measures the average price per gallon of all grades of gasoline sold in the United States. It is a key indicator of consumer energy costs and a major component of overall inflation.
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 Annual gasoline price trend tracks the national average retail price for all grades of gasoline, including regular, mid-grade, and premium. This metric is widely used by economists, policymakers, and consumers to assess the broader cost-of-living and the state of the U.S. energy market.
Methodology
The data is collected through surveys of gasoline retailers across the country by the U.S. Energy Information Administration.
Historical Context
Gasoline prices have significant implications for consumer spending, transportation costs, and overall economic activity.
Key Facts
- The U.S. consumed over 126 billion gallons of gasoline in 2022.
- Gasoline is the largest component of U.S. household energy expenditures.
- Prices peaked at a national average of $5.02 per gallon in June 2022.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average retail price per gallon of all grades of gasoline sold across the United States.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key input for consumer spending, transportation costs, and overall inflation, making this trend essential for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of gasoline retailers conducted by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Gasoline prices are closely monitored by the Federal Reserve and other agencies to assess inflationary pressures and guide monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Annual gasoline price data is typically released with a 1-2 month lag, and may not fully capture regional variations in pricing.
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Citation
U.S. Federal Reserve, Annual (GASALLGCA), retrieved from FRED.