Average Price: Gasoline, Leaded Premium (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Size Class A
APUS20074713 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.33
Year-over-Year Change
-2.92%
Date Range
1/1/1978 - 8/1/1982
Summary
This economic trend measures the average price of leaded premium gasoline per gallon in the Midwest Census Region, providing valuable insights into consumer costs and market dynamics.
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 Average Price: Gasoline, Leaded Premium (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Size Class A trend tracks the retail price of a specific type of gasoline in a particular geographic area, which is useful for analyzing regional fuel market conditions and consumer spending patterns.
Methodology
The data is collected through surveys of gasoline retailers in the Midwest Census Region.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to assess energy costs and their potential impact on the broader economy.
Key Facts
- The Midwest Census Region includes 12 states, including Illinois, Indiana, and Michigan.
- Leaded premium gasoline is a higher-octane fuel typically used in older vehicles.
- Gasoline prices can significantly impact consumer spending and business costs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of leaded premium gasoline per gallon in the Midwest Census Region, providing insights into consumer fuel costs in that geographic area.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key indicator of consumer spending power and energy market conditions, making this trend valuable for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of gasoline retailers in the Midwest Census Region.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the potential impacts of energy costs on the broader economy, including consumer spending, inflation, and business operations.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the trend only represents a specific type of gasoline in a particular geographic region.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Leaded Premium (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Size Class A (APUS20074713), retrieved from FRED.