Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in Buffalo-Niagara Falls, NY (CBSA)
APUA10574714 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.77
Year-over-Year Change
-37.32%
Date Range
1/1/1978 - 12/1/1986
Summary
This trend measures the average price of unleaded regular gasoline in the Buffalo-Niagara Falls, NY metropolitan area. It is a key indicator of consumer fuel costs and a barometer for local economic conditions.
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, Unleaded Regular trend provides data on the average price per gallon of unleaded regular gasoline within the Buffalo-Niagara Falls, NY Combined Statistical Area. This metric is closely watched by economists, policymakers, and consumers to assess the state of the local economy and household purchasing power.
Methodology
The data is collected through surveys of retail fuel stations and calculated as the average price per gallon.
Historical Context
This gasoline price trend is used to inform decisions around monetary and fiscal policies, as well as consumer behavior and spending patterns.
Key Facts
- Gasoline prices account for a significant portion of household budgets.
- Rising fuel costs can impact consumer confidence and economic growth.
- Prices can vary substantially by region due to factors like taxes and distribution costs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per gallon of unleaded regular gasoline in the Buffalo-Niagara Falls, NY metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched as an indicator of local economic conditions and consumer purchasing power.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail fuel stations and calculated as the average price per gallon.
Q: How is this trend used in economic policy?
A: Gasoline prices are used to inform decisions around monetary and fiscal policies, as well as consumer behavior and spending patterns.
Q: Are there update delays or limitations?
A: The data is published regularly, but there may be lags or limitations in reporting from individual fuel stations.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in Buffalo-Niagara Falls, NY (CBSA) (APUA10574714), retrieved from FRED.