6
   

Is this an economic indicater?

 
 
Setanta
 
  1  
Reply Sat 3 Oct, 2015 03:09 am
No, you made those claims about prices without providing a link to an authority. That was soon after having made a snide remark about your estimate of my reading comprehension skills. I have already pointed out that i was obliged (not unwillingly) to track fuel prices in the eastern United States as well as some parts of the western United States. Your claims are way over the prices being charged in the states to which we sent crews in that time period. Given you snotty attitude, i don't see any reason why i should take your word for anything.
0 Replies
 
puzzledperson
 
  -1  
Reply Sat 3 Oct, 2015 03:43 am
@Setanta,
I gave you links citing petroleum price data from the U.S. Energy Information Administration (EIA). I consider this a more reliable source for national pump-price averages than your supposed memory of Ohio from 15 years ago.

You can easily verify this by going to the EIA website and performing your own research. They make data series available by year,.month, and week, often in PDF or Excel format.

Here is a U.S. Department of Transportation link documenting gasoline prices by month since the 1980s:

http://www.rita.dot.gov/bts/sites//files/publications/pocket_guide_to_transportation/2014/5_Economy/table5_8_table

Note that this source also cites EIA data.
0 Replies
 
puzzledperson
 
  -1  
Reply Sat 3 Oct, 2015 03:49 am
@Setanta,
I gave you links citing petroleum price data from the U.S. Energy Information Administration (EIA). I consider this a more reliable source for national pump-price averages than your supposed memory of Ohio from 15 years ago.

You can easily verify this by going to the EIA website and performing your own research. They make data series available by year,.month, and week, often in PDF or Excel format. .

Here is a U.S. Department of Transportation link documenting gasoline prices by month since the 1980s:

http://www.rita.dot.gov/bts/sites//files/publications/pocket_guide_to_transportation/2014/5_Economy/table5_8_table

Note that this source also cites EIA data.
Setanta
 
  1  
Reply Sat 3 Oct, 2015 04:43 am
@puzzledperson,
You're repeating youself, and you continue to ignore my statement that i was responsible for knowing duel prices in considerably more states than just Ohio. In short, you're characterizing my statements incorrectly, in a manner favorable to your argument.

This was the post in which you posted alleged 1994 fuel prices. There was no reference to an authority, and there was no link.

puzzledperson wrote:
We're discussing the price spread between diesel and gasoline to decide whether the shift to ultra low sulfur diesel (as mandated by American and many European governments) explains the price inversion (i.e. diesel going from less expensive than gasoline to more expensive).

In 1994 the price of diesel was roughly a dollar a gallon while that of gasoline was about $1.15 (these are all U.S. averages). In 2002 diesel was still about a dollar and gasoline averaged $1.35. By November 2007 the average price of diesel was $3.30 and that of gasoline $3.01.

From this we note three things:

(1) Diesel became more expensive than gasoline only after the EPA mandated switch to more expensive ultra low sulfur diesel.

(2) The price differential is 29 cents, which is less than the 50 cent maximum estimated by the EPA prior to the mandated switch.

(3) Both diesel and gasoline have undergone dramatic price inflation.

The price inversion of diesel and gasoline is indeed consistent with the switch to ultra low sulfur diesel, since the price spread between diesel and gasoline is within the predicted range.

Diesel's absolute price had increased by more than 50 cents but that is irrelevant because so had the price of gasoline; and 50 cents is the predicted maximum spread between the two at the time of the mandated switch, not a limit on general price appreciation.

The explanation for the inflation and price volatility of petroleum products (be they diesel or gasoline) is clearly speculation on oil futures, in my opinion; but that is another discussion altogether.

The recent (2015) re-inversion (or parity) of diesel and gasoline prices was the subject of the original question (and my initial answer). The suggestion that diesel prices reflect what the market will bear is reasonable; the question is what factors account for the recent shift: a decrease in domestic demand in the trucking industry, an increase in domestic diesel production, or both.


I will note that quoting gasoline prices since 1980 does not tell us what diesel prices were in that same time period, as well as pointing out that when i click on your link, i get a page not found message.
puzzledperson
 
  -1  
Reply Sat 3 Oct, 2015 07:52 pm
@Setanta,
Here's a corrected link for the DOT data:

http://www.rita.dot.gov/bts/sites/rita.dot.gov.bts/files/publications/pocket_guide_to_transportation/2014/5_Economy/table5_8_table

The link to a diesel prices graph going back to 1994 has already been given. Here's another link to the same site:

https://www.tititudorancea.com/z/us_diesel_onhighway_retail_prices_graphs_history.htm

Note that the latter cited the U.S. DOE as the data source.

Two other links to historical gas prices, including 1994, were posted earlier. Quoting a different post that doesn't include them is silly and disingenuous.

Your statement claiming authoritative knowledge of fuel prices is just that: an undocumented statement that fails to link to an authority. Even if true it's irrelevant since the documented data citing authoritative sources speaks for itself.

My "snootiness" merely followed your insecurity fueled ad hominem; the frank assessment of your reading comprehension skills was both accurate and an appropriate response to your provocative if foolish taunts.

If you ever learn to gracefully admit error, or just stay quiet and go away, I'll be surprised. You seem to believe that if you just brazen it out and belittle your opponent long enough, you'll be mistaken for intelligent. Forlorn hope.


0 Replies
 
shenmark
 
  -1  
Reply Mon 23 Nov, 2015 03:26 am
Statistical data showing general trends in the economy. Those with predictive value are leading indicators; those occurring at the same time as the related economic activity are coincident indicators; and those that only become apparent after the activity are lagging indicators. Examples are unemployment, housing starts, Consumer Price Index, industrial production, bankruptcies, GDP, stock market prices, money supply changes, and housing starts. also called business indicators.

0 Replies
 
cicerone imposter
 
  1  
Reply Sun 13 Dec, 2015 06:11 pm
@roger,
Seems rational that it will affect lower over the road trucking. What I find interesting about the lower cost of fuel is how it may impact our economy - especially during this holiday season and beyond. It would be nice to see any uptick in our economy for more of the middle class folks who seems to be struggling.
0 Replies
 
 

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