PADD II (Midwest District) All Grades Reformulated Gas Price
Annual
GASALLREFMWA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.64
Year-over-Year Change
-2.96%
Date Range
1/1/1995 - 1/1/2024
Summary
This series measures the average annual retail price of all grades of gasoline in the United States. It serves as a key indicator of consumer energy costs and broader economic trends.
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 series tracks the average retail price per gallon of motor gasoline across the U.S. over a 12-month period. It is a widely-referenced metric for understanding household and industry energy expenditures.
Methodology
The data is collected through surveys of fuel retailers by the U.S. Energy Information Administration.
Historical Context
Gasoline prices are closely monitored by policymakers, businesses, and consumers as a barometer of economic conditions.
Key Facts
- Gasoline accounts for a significant portion of household budgets.
- Prices fluctuate based on global supply, refining capacity, and taxes.
- Annual averages smooth out seasonal and regional variations.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average retail price per gallon of motor gasoline across the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key indicator of consumer energy costs and broader economic conditions, closely monitored by policymakers, businesses, and households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel retailers by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Gasoline prices are a barometer of economic conditions and factor into policy decisions around energy, consumer spending, and inflation.
Q: Are there update delays or limitations?
A: The annual average series may not capture short-term price fluctuations, and there can be lags in data availability.
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Citation
U.S. Federal Reserve, Annual Gasoline Price (GASALLREFMWA), retrieved from FRED.