Gasoline Price Changes - Federal Trade Commission

Herfindahl-Hirschman
Index (HHI)
The Herfindahl-Hirschman Index is a commonly accepted
measure of market concentration. It is calculated by squaring
the market share of each firm competing in the market and
then summing the resulting numbers. The HHI takes into
account the relative size and distribution of the firms in a
market. The HHI increases both as the number of firms in
the market decreases and as the disparity in size between
those firms increases.
IEA International Energy Agency
Jobber Independent gasoline wholesalers known as “jobbers” may
purchase gasoline from refiners, store it in public terminals,
and sell it to gas stations for resale to consumers.
MTBE Methyl Tertiary Butyl Ether
NYMEX New York Mercantile Exchange. The largest U.S. trading
Organization of Petroleum
Exporting Countries
(OPEC)
market for energy futures and options.
OPIS Oil Price Information Service
Petroleum Administration
for Defense Districts
(PADD)
At the time of writing, OPEC’s 11 member countries include
Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar,
Saudi Arabia, United Arab Emirates, and Venezuela.
5 geographic regions, in total including all 50 United States
and the District of Columbia, defined by the Petroleum
Administration.
Rack A facility for dispensing refined petroleum products from the
terminal at which they are stored to trucks for subsequent
delivery to retail outlets.
RBOB Reformulated Gasoline Blendstock for Oxygenate Blending
Reformulated Gasoline
(RFG)
Cleaner burning gasoline produced for use in motor vehicles
that meets compositional properties established by the
Federal Clean Air Act and the EPA.
Surplus petroleum stocks stored by the U.S. government.
Strategic Petroleum Reserve
(SPR)
WTI West Texas Intermediate crude oil
A-2