PADD III (Gulf Coast District) Premium Conventional Gas Price
GASPRMCOVGCA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.71
Year-over-Year Change
0.24%
Date Range
1/1/1995 - 1/1/2024
Summary
The PADD III (Gulf Coast District) Premium Conventional Gas Price trend measures the average retail price of premium-grade conventional gasoline in the Gulf Coast region of the United States. This data point is important for analyzing fuel market dynamics and consumer spending patterns.
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 PADD III (Gulf Coast District) Premium Conventional Gas Price represents the average price paid by consumers for premium-grade conventional gasoline in the Gulf Coast region, which includes Texas, Louisiana, Mississippi, Alabama, and Florida. This metric is used by economists and policymakers to gauge regional fuel costs and their impact on consumer budgets and broader economic activity.
Methodology
The data is collected and calculated by the U.S. Energy Information Administration through surveys of fuel retailers.
Historical Context
This price trend is a key input for assessments of consumer spending, transportation costs, and the overall state of the regional and national economy.
Key Facts
- The Gulf Coast region accounts for over 50% of total U.S. refining capacity.
- Premium gasoline typically costs 20-30 cents more per gallon than regular grade.
- Gasoline prices are a major component of household budgets, especially for lower-income families.
FAQs
Q: What does this economic trend measure?
A: The PADD III (Gulf Coast District) Premium Conventional Gas Price measures the average retail price paid by consumers for premium-grade conventional gasoline in the Gulf Coast region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This price trend is an important indicator of regional fuel costs and consumer spending power, which impacts broader economic activity and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Energy Information Administration through surveys of fuel retailers in the Gulf Coast region.
Q: How is this trend used in economic policy?
A: This price trend is used by economists, policymakers, and market analysts to assess consumer spending, transportation costs, and the overall state of the regional and national economy.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically within a few weeks of the reference period. There may be some variation in reporting by individual retailers.
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Citation
U.S. Federal Reserve, PADD III (Gulf Coast District) Premium Conventional Gas Price (GASPRMCOVGCA), retrieved from FRED.