Predicting Argentine Jet Fuel Prices

Abstract

Oil distillates are considered important elements to accomplish the missions of the Argentine Air Force (AAF). Of all oil products consumed by the AAF, jet fuel is the resource with highest demand and at the end of the day the most expensive support item procured by the Argentine Air Force. Accurate predictions of Argentine jet fuel prices are necessary to improve AAF financial and logistics planning. This thesis presents a systematic, statistical regression approach to forecast Argentine jet fuel prices. The application of this methodology has allowed us to obtain a very useful model that utilizes information available on the internet to produce forecasting of jet fuel prices with average percentage absolute errors lower than 3%

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Document Details

Document Type
Technical Report
Publication Date
Mar 01, 2007
Accession Number
ADA463764

Entities

People

  • Juan A. Salaverry

Organizations

  • Air Force Institute of Technology

Tags

Communities of Interest

  • Energy and Power Technologies

DTIC Thesaurus Topics

  • Air Force
  • Analysis Of Variance
  • Computational Science
  • Data Mining
  • Data Science
  • Governments
  • Information Processing
  • Information Science
  • Knowledge Management
  • Logistics Planning
  • Neural Networks
  • Petroleum
  • Probabilistic Models
  • Regression Analysis
  • Statistical Algorithms
  • Statistical Analysis
  • United States

Readers

  • Economics
  • Logistics and Supply Chain Management.
  • Petroleum Engineering