91 Unleaded Stocks Launched

Today sees the launch of our first petrol price stocks, aimed at forecasting the price of 91 unleaded petrol at the pump.

Five binary stocks are designed to measure this, each asking will the price of 91 unleaded be within the following ranges:

91.FEB09.VLOW: price less and 132 cents
91.FEB09.LOW: price between 132 and 139.9 cents
91.FEB09.MID: price between 140 and 148 cents
91.FEB09.HIGH: price between 148.1 and 156 cents
91.FEB09.VHIGH: price above 156 cents

How do we measure price? We use the Ministry of Economic Development's Regular Petrol Price series, available from here. Although the Ministry does not make it clear on the page, this series is measuring the GST inclusive, all other taxes-inclusive price of 91 unleaded petrol in the Wellington region. I had to call the Ministry to figure that out.

We have also launched a new bundle called BUNDLE.91.FEB09 which combines all five stocks and sells for $1.