Table 3. Results for OLS Regression on Relative Gasoline Price with Individual PADD Regional Data
Variable |
PADD I |
PADD II |
PADD III |
PADD IV |
PADD V | |||||
Estimate |
Std. Err. |
Estimate |
Std. Err. |
Estimate |
Std. Err. |
Estimate |
Std. Err. |
Estimate |
Std. Err. | |
Oil stock |
.000025* |
.000015 |
.000012*** |
2.11e-6 |
3.89e-6*** |
9.38e-7 |
-7.88e-6 |
.000018 |
2.84e-6 |
5.62e-6 |
Gasoline stock |
.000031*** |
6.48e-6 |
.000011 |
8.16e-6 |
.000024*** |
7.36e-6 |
.00015*** |
.000055 |
.000029 |
.000019 |
Refinery cap. |
0.0048 |
0.00032 |
.00054 |
.00047 |
-.00012 |
.00021 |
-.0062*** |
.0023 |
-.0032*** |
.00074 |
Utilization rate |
0.0051 |
0.0046 |
-.012 |
.0073 |
.010* |
.0056 |
-.010 |
.0086 |
.0037 |
.011 |
Ethanol prod. |
-.000056*** |
.000014 |
-.000095*** |
8.45e-6 |
-.000059*** |
.000014 |
-.000041*** |
.000020 |
-.000056*** |
.000015 |
Supply disrup. |
.47** |
.20 |
.19 |
.19 |
.54*** |
.20 |
.23 |
.26 |
-.069 |
.29 |
Gasoline import |
-.000044*** |
7.58e-6 |
-.000012 |
9.59e-6 |
-5.07e-6 |
8.18e-6 |
-.000013 |
.000014 |
-9.37e-6 |
.000014 |
HHI |
-.00029* |
0.00017 |
-.00029 |
.00037 |
.00037 |
-.0030 |
.00051 |
.00053 |
.0019*** |
.00046 |
January |
-.10 |
.097 |
-.047 |
.10 |
-.0057 |
.0084 |
-.14 |
.13 |
-.067 |
.15 |
February |
-.11 |
.098 |
-.11 |
.10 |
-.024 |
.088 |
-.17 |
.13 |
-.0060 |
.15 |
March |
.0079 |
.099 |
-.12 |
.11 |
-.006 |
.079 |
-.063 |
.12 |
.12 |
.14 |
April |
.060 |
.10 |
-.013 |
.10 |
-.0044 |
.080 |
.15 |
.13 |
.22 |
.14 |
May |
.023 |
.11 |
.11 |
.11 |
.019 |
.080 |
.26* |
.13 |
.22 |
.14 |
June |
.000052 |
.10 |
.17 |
.11 |
.0097 |
.078 |
.35** |
.14 |
.22 |
.14 |
July |
.018 |
.10 |
.065 |
.10 |
-.0013 |
.078 |
.33** |
.15 |
.16 |
.14 |
August |
.072 |
.10 |
.093 |
.10 |
.017 |
.079 |
.32** |
.15 |
.11 |
.15 |
September |
-.037 |
.10 |
.053 |
.098 |
-.047 |
.076 |
.23 |
.14 |
.074 |
.14 |
October |
.035 |
.10 |
-.012 |
.099 |
-.056 |
.077 |
.18 |
.13 |
.096 |
.14 |
November |
-.029 |
.097 |
-.025 |
.096 |
-.052 |
.075 |
.09 |
.12 |
.046 |
.14 |
Constant |
0.17*** |
.67 |
.31 |
1.79 |
.048 |
1.20 |
5.56*** |
1.49 |
8.87*** |
2.79 |
R2 |
.7109 |
.7119 |
.8229 |
.6610 |
.6415 | |||||
Adjusted R2 |
.6705 |
.6717 |
.7981 |
.6136 |
.5915 |
*** 1% significance; ** 5% significance;* 10% significance level.
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