Capitalytics

**Regression for US Avg Retail Gasoline Price (-gal; all grades, all formulations)**

	Dependent variable (+/- SE):

	US Avg Retail Gasoline Price ($-gal; all grades, all formulations)

Constant	21.429 (+/- 2.609)
	p = 0.00001^***
Moody's BAA Curve	1.959 (+/- 0.273)
	p = 0.00001^***
Real GDP growth	-0.397 (+/- 0.066)
	p = 0.00005^***
Nominal GDP growth	0.411 (+/- 0.066)
	p = 0.00004^***
Real disposable income growth	-0.327 (+/- 0.053)
	p = 0.00004^***
Nominal disposable income growth	0.307 (+/- 0.050)
	p = 0.00004^***
Unemployment Rate	0.455 (+/- 0.111)
	p = 0.002^***
Prime Rate	2.068 (+/- 0.279)
	p = 0.00001^***
Home Price Index	-0.071 (+/- 0.008)
	p = 0.00001^***
30-year Treasury Yield	-19.307 (+/- 2.204)
	p = 0.00000^***
20-year Treasury Yield	16.855 (+/- 1.596)
	p = 0.00000^***
10-year Treasury Yield	-15.385 (+/- 2.168)
	p = 0.00001^***
LN_10-year Treasury Yield	34.252 (+/- 5.022)
	p = 0.00002^***
LN_1-month Treasury Yield	-0.696 (+/- 0.118)
	p = 0.0001^***
LN_7-year Treasury Yield	-24.107 (+/- 3.108)
	p = 0.00001^***
5-year Treasury Yield	7.899 (+/- 1.622)
	p = 0.0004^***
6-month Treasury Yield	11.566 (+/- 2.098)
	p = 0.0001^***
LN_6-month Treasury Yield	4.786 (+/- 0.567)
	p = 0.00001^***
LN_3-year Treasury Yield	4.544 (+/- 0.659)
	p = 0.00002^***
1-year Treasury Yield	-20.136 (+/- 3.217)
	p = 0.00003^***
LN_1-year Treasury Yield	-3.067 (+/- 0.411)
	p = 0.00001^***
1-year Treasury Yield_2	5.955 (+/- 0.922)
	p = 0.00003^***
3-year Treasury Yield_2	-1.000 (+/- 0.256)
	p = 0.002^***
6-month Treasury Yield_2	-5.154 (+/- 0.824)
	p = 0.00003^***
5-year Treasury Yield_2	-2.214 (+/- 0.442)
	p = 0.0003^***
3-month Treasury Yield_2	1.132 (+/- 0.194)
	p = 0.0001^***
7-year Treasury Yield_2	2.611 (+/- 0.472)
	p = 0.0001^***

Observations	40
R²	0.993
Adjusted R²	0.979
Residual Std. Error	0.091 (df = 13)
F Statistic	69.366^*** (df = 26; 13)

Note:	^p<0.1; ^p<0.05; ^**p<0.01