Average Price: Gasoline, Leaded Premium (Cost per Gallon/3.8 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A74713 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.35
Year-over-Year Change
43.15%
Date Range
1/1/1978 - 5/1/1980
Summary
This economic trend measures the average price of leaded premium gasoline per gallon in the Chicago-Naperville-Elgin metro area. It provides insight into consumer fuel costs and regional price 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 Chicago-Naperville-Elgin, IL-IN-WI (CBSA) series tracks the average retail price for premium grade gasoline in the Chicago metropolitan area. This data point is used by economists and policymakers to analyze regional consumer price trends and factors influencing transportation costs.
Methodology
This data is collected through surveys of retail gasoline stations in the defined geographic area.
Historical Context
Gasoline prices are a key factor in economic policy and consumer spending patterns.
Key Facts
- Prices are tracked in the Chicago-Naperville-Elgin metro area.
- Data is collected through surveys of local retail gasoline stations.
- Prices are reported per gallon of leaded premium gasoline.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of leaded premium gasoline per gallon in the Chicago-Naperville-Elgin metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer fuel costs and regional price dynamics, which are important factors for economic policy and consumer spending patterns.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail gasoline stations in the defined geographic area.
Q: How is this trend used in economic policy?
A: Gasoline prices are a key factor considered by economists and policymakers when analyzing consumer spending, transportation costs, and energy market conditions.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting, and the geographic scope is limited to the Chicago-Naperville-Elgin metro area.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Leaded Premium (Cost per Gallon/3.8 Liters) in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A74713), retrieved from FRED.