Propane Prices: Mont Belvieu, Texas
Why Use This Data Source In Your Models?
DPROPANEMBTX is an essential indicator for industries relying on propane, such as heating, agriculture, petrochemicals, and transportation. It aids businesses in anticipating fuel costs, optimizing inventory, and adjusting production schedules in response to price changes. For analysts, Mont Belvieu propane prices serve as a barometer of broader energy market conditions, as they reflect both domestic demand and export trends. Tracking this index is particularly important during winter months when propane demand for heating rises, influencing prices and potentially signaling shifts in broader energy consumption patterns.
Propane Prices: Mont Belvieu, Texas
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Suggested Treatment:
Grain Transformation:
Source:
U.S. Energy Information Administration
Release:
Gasoline and Diesel Fuel Update
Units:
Dollars per Gallon, Not Seasonally Adjusted
Frequency:
Daily
Available Through:
04/21/2025
Suggested Treatment:
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Boxcox variable will also perform well.
Grain Transformation:
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Auto Correlation Analysis:
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
Trend Analysis:
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 2.22 p-value = 0.01 indicates that the data is not stationary.
Distribution Analysis:
The Shapiro-Wilk test returned W = 0.98 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 0.37 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.02 with a p-value of 0.00 inidcates the data is multimodal
Statistics (Pearson P/ df, lower => more normal)
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal Impact
Seasonal and Trend Decompostion
Citation:
U.S. Energy Information Administration, Propane Prices: Mont Belvieu, Texas [DPROPANEMBTX], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DPROPANEMBTX, October 30, 2024.
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