US Midgrade Reformulated Gas Price
Annual
GASMIDREFA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.15
Year-over-Year Change
5.87%
Date Range
1/1/1995 - 1/1/2024
Summary
The Annual Retail Gasoline Price series measures the annual average price of regular grade gasoline in the United States. This data point is closely watched by economists and policymakers as a key indicator of consumer costs and inflationary pressures.
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 Retail Gasoline Price represents the national average price per gallon of regular grade motor gasoline sold through retail outlets in the United States. It is a widely used benchmark for tracking changes in consumer fuel costs over time.
Methodology
The data is collected through surveys of retail fuel stations and compiled by the U.S. Energy Information Administration.
Historical Context
Gasoline prices are a significant factor in consumer spending and have implications for inflation, monetary policy, and the broader economy.
Key Facts
- The annual average retail gasoline price reached a record high of $4.70 per gallon in 2022.
- Gasoline prices account for approximately 3.5% of the total U.S. Consumer Price Index (CPI).
- Fluctuations in gasoline prices can have significant impacts on consumer confidence and spending.
FAQs
Q: What does this economic trend measure?
A: The Annual Retail Gasoline Price series measures the average price per gallon of regular grade gasoline sold through retail outlets in the United States over a one-year period.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key driver of consumer costs and inflationary pressures, making this data point highly relevant for economists, policymakers, and analysts tracking the state of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail fuel stations and compiled by the U.S. Energy Information Administration.
Q: How is this trend used in economic policy?
A: Fluctuations in gasoline prices are closely monitored by the Federal Reserve and other policymakers as they can have significant implications for consumer spending, inflation, and the broader economy.
Q: Are there update delays or limitations?
A: The Annual Retail Gasoline Price data is published with a lag, typically several months after the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual Retail Gasoline Price (GASMIDREFA), retrieved from FRED.