Annual
This dataset tracks annual over time.
Latest Value
3.29
Year-over-Year Change
-7.26%
Date Range
1/1/1994 - 1/1/2024
Summary
The Annual Retail Motor Gasoline Price measures the average retail price of motor gasoline in the United States across all grades and formulations. This metric is a key economic indicator for monitoring consumer energy costs and transportation-related 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 Retail Motor Gasoline Price tracks the national average price that consumers pay for regular-grade gasoline at retail filling stations. It is a widely referenced benchmark for energy and transportation costs that informs economic analysis and policy decisions.
Methodology
The data is collected through a monthly survey of retail fuel prices conducted by the U.S. Energy Information Administration.
Historical Context
Policymakers and analysts use this series to assess the impact of gasoline prices on household budgets, business costs, and broader measures of inflation.
Key Facts
- Annual retail gasoline prices averaged $3.91 per gallon in 2022.
- Gasoline accounts for about 4% of the typical U.S. household's annual expenditures.
- Gasoline prices have a significant impact on consumer confidence and spending.
FAQs
Q: What does this economic trend measure?
A: The Annual Retail Motor Gasoline Price tracks the national average price that consumers pay for regular-grade gasoline at retail filling stations across the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator for monitoring consumer energy costs and transportation-related inflation, which informs economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of retail fuel prices conducted by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this series to assess the impact of gasoline prices on household budgets, business costs, and broader measures of inflation.
Q: Are there update delays or limitations?
A: The Annual Retail Motor Gasoline Price data is published with a slight delay, as it relies on monthly survey responses.
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Citation
U.S. Federal Reserve, Annual Retail Motor Gasoline Price (GASALLRMA), retrieved from FRED.