U.S. Energy Information Administration
Gasoline and Diesel Fuel Update
Dollars per Gallon, Not Seasonally Adjusted
Weekly, ending Monday
Gas prices indicate oil supply and demand. Shocks to the price can indicate overall economic health.
The data shows autocorrection 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.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
US Regular All Formulations Gas Price
Auto Correction Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
Data shows autocorrectation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 1.03 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.93 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 0.28 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.05 with a p-value of 0.00 inidcates the data is multimodal
Statistics (Pearson P/ df, lower => more normal)
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.