PADD II (Midwest District) Premium All Formulations Gas Price
Annual
GASPRMMWA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.09
Year-over-Year Change
7.25%
Date Range
1/1/1995 - 1/1/2024
Summary
The Annual trend measures the average price of regular grade gasoline across the United States. It is a key indicator of consumer energy costs and an important input for economic analysis and policymaking.
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 nationwide average retail price per gallon of regular grade motor gasoline. This metric is widely used by economists, analysts, and policymakers to understand consumer energy expenditures and assess broader inflationary pressures.
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 conditions.
Key Facts
- The annual average gasoline price in the U.S. was $3.42 per gallon in 2022.
- Gasoline prices can significantly impact household budgets and consumer confidence.
- Changes in the Annual gasoline price trend are closely monitored by policymakers.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the nationwide average retail price per gallon of regular grade motor gasoline across the United States.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key component of consumer energy costs and have significant implications for household budgets, transportation expenses, and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of gasoline retailers across the country by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Changes in the Annual gasoline price trend are closely monitored by policymakers, as they can significantly impact consumer spending, inflation, and the overall economic environment.
Q: Are there update delays or limitations?
A: The Annual gasoline price data is typically published with a lag of several months, reflecting the time required to collect and aggregate the nationwide survey results.
Related Trends
Global price of Cocoa
PCOCOUSDM
Average Price: Grapes, Thompson Seedless (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000711417
Average Price: Utility (Piped) Gas per Therm in the East South Central Census Division
APU036072620
Average Price: Broccoli (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban
APU0100712412
Average Price: Electricity per 500 Kilowatt-Hour in Milwaukee-Racine, WI (CBSA)
APUA21272621
US All Grades All Formulations Gas Price
GASALLM
Citation
U.S. Federal Reserve, Annual (GASPRMMWA), retrieved from FRED.