PADD V (West Coast District) Premium All Formulations Gas Price
Annual
GASPRMWCA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.79
Year-over-Year Change
14.81%
Date Range
1/1/1995 - 1/1/2024
Summary
The Annual Gasoline Retail Price Index (GASPRMWCA) measures the average retail price of gasoline in the United States. This metric is a key indicator of consumer energy costs and an important data point for economists and policymakers.
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 GASPRMWCA series tracks the average price per gallon of regular grade gasoline sold at retail outlets across the U.S. It provides a broad measure of changes in consumer fuel prices over time, which has significant implications for household budgets, transportation costs, and the broader economy.
Methodology
The data is collected through a monthly survey of retail gasoline stations by the U.S. Energy Information Administration.
Historical Context
Policymakers and analysts use this index to monitor inflation, assess consumer purchasing power, and inform decisions related to energy and transportation policy.
Key Facts
- The GASPRMWCA index has a base year of 1982-1984 = 100.
- Gasoline prices reached an all-time high in the U.S. in 2022.
- Fluctuations in the GASPRMWCA index can significantly impact household budgets and spending patterns.
FAQs
Q: What does this economic trend measure?
A: The Annual Gasoline Retail Price Index (GASPRMWCA) measures the average retail price of regular grade gasoline sold at fuel stations across the United States.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of consumer energy costs and has significant implications for household budgets, transportation expenses, and the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of retail gasoline stations by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the GASPRMWCA index to monitor inflation, assess consumer purchasing power, and inform decisions related to energy and transportation policy.
Q: Are there update delays or limitations?
A: The GASPRMWCA index is updated monthly, with a typical 1-2 month delay in data availability.
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Citation
U.S. Federal Reserve, Annual Gasoline Retail Price Index (GASPRMWCA), retrieved from FRED.