US gasoline prices

Description

Monthly US retail gasoline price (the average price per gallon, in dollars) and the spot price of a barrel of West Texas Intermediate (WTI) oil in dollars as traded at Cushing, Oklahoma. Jan 1991 - Nov 2006.

Usage

1

Format

bivariate time series

Source

Hyndman, R.J., Koehler, A.B., Ord, J.K., and Snyder, R.D., (2008) Forecasting with exponential smoothing: the state space approach, Springer.

References

http://www.exponentialsmoothing.net. These series are available from the US Energy Information Administration website http://www.eia.doe.gov.

Examples

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par(mar=c(5,4,2,5))
plot(gasprice[,1], xlab="Year", ylab="Average retail price per gallon (dollars)", 
  main="Gasoline and oil prices")
par(new=TRUE)
plot(gasprice[,2], col="blue", xaxt="n", yaxt="n", xlab="", ylab="")
axis(4)
mtext("Spot price per barrel (dollars)", side=4, line=3)
legend("topleft", col=c("black","blue"), lty=1,
  legend=c("Ave retail price of gasoline", "Spot price of WTI oil"))