Gasoline Price Data
The Ultimate Guide to Gasoline Price Data 2021
What is Gasoline Price Data?
Gasoline price data is information that tracks the changes in gasoline prices across the globe. This information is critical as it provides an overview of country-specific fuel price policies and how this has an implication on the overall economy of the country. Tracking down the price of gasoline and fuel as a whole is not just important for consumers but also for policymakers.
How is Gasoline Price Data collected?
Gasoline price data collection relies heavily on databases that are constructed and frequently updated publicly by a country’s energy regulatory authorities. The provision of gas price data is a task undertaken by regulatory agencies that oversee fuel price control, consumer protection agencies, ministries of finance, trade, and energy, and state-owned petroleum companies. As far as advanced economies are concerned, compiled gasoline price data is readily available through existing government databases and datasets. Nonetheless, some developing countries do not usually publish gas price data to foster price transparency. In such cases, international institutions such as IMF collect data for these countries. While close to 40 percent of countries have a database in which they post retail gas prices, the IMF dataset is the second-largest source of gas price information.
What are the attributes of Gasoline Price Data?
The data on the retail price of gasoline consists of four main components:
• The cost of crude oil. This aspect of the gas price data gives an overview of the overhead cost of the impure form of gasoline before refineries purify its consumption.
• Refining costs and profits offer a breakdown of input prices that have gone into the transformation of crude oil into the finished final product. Based on octane levels, this price aspect indicates the three primary grades of gasoline that include regular, midgrade, and premium.
• Distribution and marketing costs and profits are crucial attributes of gas price data because of their implication on the total price of gasoline. In most cases, these overhead costs are passed down to the final consumer hence the need to keep track of them.
• Finally, taxes also form a critical aspect of gas price data. Different tax regimes affect the price of gas.
What is Gasoline Price Data used for?
Information on gasoline price data is critical not only to the consumer but also to other government-based agencies or independent bodies. In gas price analysis, consumer protection bodies use the gasoline price data to keep track of fuel prices among distributors and monitor unfair market practices as far as competition is concerned. On the other hand, government agencies such as central banks use gasoline price data as a critical input when computing consumer price index (CPI) and tracking down inflation developments. Owing to the frequency upon which gasoline price data changes, gasoline prices affect the perception of value.
How can a user assess the quality of Gasoline Price Data?
Assessing the quality of gasoline price data is highly dependent on the factor of volatility. Gasoline prices are prone to notable short-term volatility changes. The aspect of volatility means that assessing the variations of these short-term price changes requires a run-down of data that captures these high-frequency shifts accurately and within a given period. Furthermore, gasoline price data quality also depends on how the data covers the sample of gas prices across a given region or country and how it captures the adjustment for currency changes. In a nutshell, the quality of gas price data falls into four dimensions: the frequency, time coverage, country and geographical issue, and coverage of other fuel products.
Who are the best Gasoline Price Data providers?
Finding the right Gasoline Price Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Gasoline Price Data providers that you might want to buy Gasoline Price Data from are GasBuddy, Tankerkönig, and Holomorphe.
How can I get Gasoline Price Data?
You can get Gasoline Price Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Gasoline Price Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Gasoline Price Data APIs, feeds and streams to download the most up-to-date intelligence.
What are similar data types to Gasoline Price Data?
Gasoline Price Data is similar to Petrol Price Data, Gas Station Data, Diesel Price Data, and Kerosene Price Data. These data categories are commonly used for Price Analysis and Gasoline Price Data analytics.
What are the most common use cases for Gasoline Price Data?
The top use cases for Gasoline Price Data are Price Analysis.