talkinghead
06-19-2007, 08:42 PM
I took approx. 7 years of historical gas price data provided by AAA So. Cal. - you can find the data on their web site.
I punched about 50 gas price data points (from AAA So Cal) into Excel and using their statistical data package it came up with a model that would predict future gas prices.
Ofcourse the further you go out the less accurate it is, but I think it should be accurate for at least 5 years into the future. It only provides what you will be paying on average.
And in some ways the model does take into account political issues, weather, etc...that stuff is already built into the data to an extent.
And the model says:
Sometime during the spring of 2009 in So. Cal. the average gas price will be ~$4/gallon.
Actually it came up with $4.03 for May 2009 as the avg. gas price.
I punched about 50 gas price data points (from AAA So Cal) into Excel and using their statistical data package it came up with a model that would predict future gas prices.
Ofcourse the further you go out the less accurate it is, but I think it should be accurate for at least 5 years into the future. It only provides what you will be paying on average.
And in some ways the model does take into account political issues, weather, etc...that stuff is already built into the data to an extent.
And the model says:
Sometime during the spring of 2009 in So. Cal. the average gas price will be ~$4/gallon.
Actually it came up with $4.03 for May 2009 as the avg. gas price.