READY SIGNAL CONTROL DATA

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

Ready Signal automatically profiles each data set and offers up suggested industry standard data science treatments to utilize with these data in your models.

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.

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:
12/08/2024

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)

No transform
7.75
Box-cox
2.54
Log_b(x-a)
2.50
sqrt(x+a)
2.52
exp(x)
6.72
arcsinh(x)
2.51
Yeo-Johnson
2.56
OrderNorm
1.15

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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