PADD I (East Coast District) Regular All Formulations Gas Price
Annual
GASREGECA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.23
Year-over-Year Change
-10.68%
Date Range
1/1/1993 - 1/1/2024
Summary
The Annual retail gasoline price measures the national average price of regular gasoline paid by U.S. consumers. It is a key indicator of energy costs and consumer spending patterns.
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 average price per gallon of regular unleaded gasoline across the United States over the course of a full calendar year. This metric is widely tracked by economists, policymakers, and consumers to gauge energy-related inflation and its impacts on household budgets.
Methodology
The data is collected and reported by the U.S. Energy Information Administration based on surveys of fuel retailers nationwide.
Historical Context
Gasoline prices have significant implications for consumer behavior, business costs, and monetary policy decisions.
Key Facts
- The annual average price peaked at $4.11 per gallon in 2008.
- Prices reached a 20-year low of $2.18 per gallon in 2016.
- Gasoline typically accounts for around 4% of total U.S. household expenditures.
FAQs
Q: What does this economic trend measure?
A: The Annual retail gasoline price measures the national average price paid by U.S. consumers for regular unleaded gasoline over the course of a full calendar year.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key component of consumer price inflation and have significant impacts on household budgets, business costs, and broader economic activity.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Energy Information Administration through surveys of fuel retailers nationwide.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor gasoline prices as an input to monetary policy decisions and assessments of inflationary pressures.
Q: Are there update delays or limitations?
A: The Annual retail gasoline price data is typically released with a lag of several months after the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual retail gasoline price (GASREGECA), retrieved from FRED.