US Midgrade Conventional Gas Price
This dataset tracks us midgrade conventional gas price over time.
Latest Value
3.63
Year-over-Year Change
-1.23%
Date Range
1/1/1995 - 1/1/2024
Summary
The US Midgrade Conventional Gas Price tracks the average retail price of midgrade conventional gasoline across the United States. This metric is a key indicator of consumer energy costs and overall economic activity.
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 US Midgrade Conventional Gas Price represents the national average price paid by consumers for midgrade conventional gasoline. This data is used by policymakers, analysts, and the public to monitor fuel price trends and their impact on household budgets and the broader economy.
Methodology
The data is collected and calculated by the US Energy Information Administration through surveys of retail fuel stations nationwide.
Historical Context
Gasoline prices are closely watched as they can influence consumer spending, inflation, and transportation costs for businesses.
Key Facts
- Midgrade gas is a blend of regular and premium fuel.
- Prices vary significantly by region and season.
- Gas prices peaked in 2022 amid global supply chain disruptions.
FAQs
Q: What does this economic trend measure?
A: The US Midgrade Conventional Gas Price tracks the average retail price paid by consumers for midgrade conventional gasoline across the United States.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key indicator of consumer energy costs and can impact broader economic activity, household budgets, and transportation-related expenses for businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the US Energy Information Administration through surveys of retail fuel stations nationwide.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and the public use this data to monitor fuel price trends and their potential impact on inflation, consumer spending, and the broader economy.
Q: Are there update delays or limitations?
A: The data is published weekly with a short lag, and may not fully capture localized or short-term price fluctuations.
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Citation
U.S. Federal Reserve, US Midgrade Conventional Gas Price (GASMIDCOVA), retrieved from FRED.