Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in Detroit-Warren-Dearborn, MI (CBSA)
APUS23B74712 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.09
Year-over-Year Change
21.59%
Date Range
1/1/1978 - 4/1/1989
Summary
This trend measures the average price per gallon of leaded regular gasoline in the Detroit-Warren-Dearborn, MI metropolitan area. It is a key indicator of consumer energy costs and a barometer of regional market 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, Leaded Regular (Cost per Gallon/3.8 Liters) in Detroit-Warren-Dearborn, MI (CBSA) series tracks the nominal price of a standard gallon of leaded regular gasoline in this major Midwest market. It is used to analyze consumer spending, inflation, and the economic health of the regional transportation and energy sectors.
Methodology
The data is collected through surveys of fuel retailers in the Detroit metropolitan area.
Historical Context
This gasoline price trend is closely monitored by policymakers, market analysts, and consumers to assess the state of the economy and the cost of living.
Key Facts
- Gasoline prices impact consumer spending and inflation.
- Detroit is a major automotive and transportation hub.
- Leaded regular gasoline is a legacy fuel type.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per gallon of leaded regular gasoline in the Detroit-Warren-Dearborn, MI metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This gasoline price trend is a key indicator of consumer energy costs and a barometer of regional market conditions, making it relevant for policymakers, analysts, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of fuel retailers in the Detroit metropolitan area.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers to assess the state of the economy and the cost of living.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness and coverage of the underlying retail surveys.
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Citation
U.S. Federal Reserve, Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in Detroit-Warren-Dearborn, MI (CBSA) (APUS23B74712), retrieved from FRED.