US Regular All Formulations Gas Price
Why Use This Data Source In Your Models?
Gas prices indicate oil supply and demand. Shocks to the price can indicate overall economic health.
US Regular All Formulations Gas 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 Gallon, Not Seasonally Adjusted
Frequency:
Weekly, ending Monday
Available Through:
12/01/2024
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 Log 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 = 1.29 p-value = 0.01 indicates that the data is not stationary.
Distribution Analysis:
The Shapiro-Wilk test returned W = 0.95 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 0.52 indicates the data are moderately skewed.
Hartigan's dip test score of 0.04 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, US Regular All Formulations Gas Price [GASREGW], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GASREGW, December 15, 2019.
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