U.S. Natural Gas Liquid Composite Price
Why Use This Data Source In Your Models?
DHHNGSP is an important metric for energy producers, petrochemical companies, and industries reliant on NGLs as feedstocks or fuel sources. Tracking this price helps companies manage cost fluctuations in production and forecast expenses associated with NGL-related products, such as plastics, chemicals, and heating fuels. For economists and analysts, it provides insight into energy market dynamics and broader economic trends, given NGLs’ role in various industrial applications. Additionally, price changes in this index can signal shifts in natural gas production, transportation bottlenecks, or demand spikes in related markets.
U.S. Natural Gas Liquid Composite Price
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Automated Data Profiling
Suggested Treatment:
Grain Transformation:
Source:
U.S. Energy Information Administration
Release:
Gasoline and Diesel Fuel Update
Units:
Dollars per Million BTU, Not Seasonally Adjusted
Frequency:
Monthly
Available Through:
01/31/2025
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 Untransformed 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 = 0.33 p-value = 0.01 indicates that the data is not stationary.
Distribution Analysis:
The Shapiro-Wilk test returned W = 0.97 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 0.35 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.03 with a p-value of 0.21 inidcates the data is unimodal
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, U.S. Natural Gas Liquid Composite Price [MNGLCP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MNGLCP, October 30, 2024.
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