The Effect of Gas Prices by Brand and Neighborhood

Date:  2021-05-14 09:30:02
3 pages  (955 words)
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This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.
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This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Gas prices vary from one location to another and from one brand to another. The main objective of this report was to investigate whether gas prices are affected by brand type or the place where the gas is sold. The investigation was carried out in five cities that is Los Angeles, Houston, Philadelphia, Phoenix and San Diego. The gas prices were obtained from gas buddy a website that contains details like the gas price for every brand and the place where this gas is sold.

The types of brand being investigated in this report are the regular, midgrade, premium and diesel. This information was gathered from this site and tabulated in the tables overleaf the average method was used to investigate the effects of gas brand and place on gas prices. The minimum, maximum and mode value were found for each brand at each location and the same was done for the each city.

Regular Midgrade Premium Diesel Los Angeles CA

Min 2.49 2.59 2.69 2.25 2.25

Max 2.55 2.69 2.79 2.35 2.79

Mode 2.53 2.65 2.79 2.29 2.79

Houston TX

Min 1.79 1.69 1.89 1.79 1.69

Max 1.83 1.99 2.09 1.82 2.09

Mode 1.79 1.99 1.89 1.79 1.79

Philadelphia PA

Min 2.13 2.3 2.39 2.29 2.13

Max 2.31 2.49 2.67 2.45 2.67

Mode 2.29 2.45 2.65 2.45 2.45

Phoenix AZ

Min 1.97 2.09 2.23 1.85 1.85

Max 1.99 2.19 2.29 1.97 2.29

Mode 1.99 2.19 2.29 1.95 1.99

San Diego CA

Min 2.39 2.63 2.73 2.19 2.19

Max 2.55 2.69 2.81 2.39 2.81

Mode 2.53 2.69 2.73 2.39 2.39

Min 1.79 1.69 1.89 1.79 Max 2.55 2.69 2.81 2.45 Mode 2.53 2.65 2.79 1.79 Effects of type brand of gas to gas prices

The minimum parameter showed that the midgrade brand was the cheapest gas in the citywith a price of $1.69 per gallon while the premium was the most expensive gas with a price of $1.89 per gallon, Houston TX for instance is the city with the cheapest price of gas per gallon going for $1.69 and Los Angeles CA recorded the highest price of $ 2.25gas per gallon. The maximum parameter showed that the premium was the most expensive brand with price standing at $2.81 per gallon while diesel was the cheapest brand with price of $2.45 per gallon. The mode which usually represents the most dominant value in the dataset showed that the premium was still the most expensive brand with a price of $2.79 per gallon while diesel was the cheapest with the price at $1.79 per gallon, in terms of cities, Los Angeles CA has the highest mode meaning that they have the highest consumption of gas in the cities irrespective of the price per gallon.

This different analysis clearly showed that gas prices are affected by the gas brand. That in these case the differentcitiesshowed that the premium brand of gasis the most expensive brand followed by Midgrade then regular and finally diesel is the cheapest.

Effects of type of location to gas prices

The location has a positive influence on the price of gas. Using Minimum as a parameter to determine how gas prices are affected by location, inHouston TX the price of gas stands at $1.69 per gallon which is the cheapest gas compared to all the other cities while Los Angeles CA has a price of $ 2.25 per gallon of gas, showing that this area has the most expensive price of gas among the five cities. San Diego comes in second with a price of $2.19 per gallon of gas followed by Philadelphia at $2.13 per gallon and finally Phoenix at $1.85 per gallon.

Using Maximum as a parameter to determine how gas prices are affected by location, in Houston TX the price of gas stands at $2.09 per gallon which is the cheapest gas compared to all the other cities while Los Angeles CA has a price of $ 2.79 per gallon of gas, showing that this area has the most expensive price of gas among the five cities. Philadelphia comes in second with a price of $2.69 per gallon of gas followed by Phoenix at $2.29 per gallon and San Diego stands at $2.19 per gallon.

The Mode is a parameter value that indicates the most dominant value in a data set and in this case itshowed, that in Houston TX the price of gas stood at $1.79 per gallon which is the cheapest gas compared to all the other cities while Los Angeles CA has a price of $ 2.79 per gallon of gas, showing that this area has the most expensive price of gas among the five cities. Philadelphia comes in second with a price of $2.45 per gallon of gas followed by Phoenix at $1.99 per gallon and finally San Diego stands at $2.19 per gallon.

In Los Angeles the mode parameter shows that premium brand is the most expensive brand at $2.79 per gallon being the dominant price while diesel is the cheapest brand at $2.29 per gallon. Houston city showed that Midgrade is the most expensive brand at $1.99 per gallon while Regular brand and diesel were cheapest with the same price of $1.79 per gallon. In Philadelphia the Premium brand was the most expensive at $2.65 per gallon while the Regular brand was the cheapest. In Phoenix premium was the most expensive at $2.29 per gallon while diesel was the cheapest at $1.95 per gallon. Finally in San Diego the Premium brand was the most expensive at $2.73 per gallon while diesel was the cheapest at $2.39 per gallon which has a negative impact on the consumption of the gas.

Conclusion

The minimum, maximum and mode value were the parameters used to determine the price of gas per gallon and the location of the city which has the most consumption is illustrated by the Mode for the five cities.

Gas prices are affected by location and the gas brand. In this case the five cities showed different prices for different brands of gas. Premium brand seemed to be an expensive brand while diesel is a cheap brand in most of the cities. In terms of location Houston city has the cheapest fuel while Los Angeles has the most expensive fuel.

In Los Angeles CA the price of gas per gallon range from $2.25 to $2.79, Houston TX prices range from $1.69 to $2.09, Philadelphia PA the prices range from $2.13 to $2.67, Phoenix AZ prices range from $1.85 to $2.29 while in San Diego CA the prices for gas per gallon range from $2.19 to $2.81

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