The relationship between recent gasoline price fluctuations and transit ridership in major US cities

2010 ◽  
Vol 18 (2) ◽  
pp. 214-225 ◽  
Author(s):  
Bradley W. Lane
Author(s):  
Kaylyn M. Cardinal ◽  
Mohamed Khalafalla ◽  
Jorge Rueda-Benavides

It is clear for the transportation industry that asphalt prices are heavily affected by changes in the crude oil market. This occurs because asphalt is a byproduct of the process of refining crude oil. However, there is still a lack of research on assessing the economic implications of this relationship. This paper assesses those implications through an innovative statistical process designed to quantify the economic correlation between asphalt and crude oil price fluctuations in Alabama. The proposed statistical process is used in this paper to model the relationship between the Alabama Department of Transportation’s (ALDOT’s) monthly asphalt price index and a national crude oil index published by the US Energy Information Administration. The process quantifies the relationship between these two commodities in relation to two metrics: (1) the time gap between an observed change in the crude oil index and its corresponding impact on the asphalt price index and (2) the magnitude of that impact. It was found that the most likely time gap between crude oil and asphalt price fluctuations in Alabama is 3 months, with a change ratio of 0.58. This means that a 1% increase in the price of crude oil would most likely affect the Alabama asphalt market 3 months later with a price increase of about 0.58%. Recognizing that these are just average values, the paper also presents a risk assessment tool that provides ALDOT with the probability of occurrence of different scenarios taking into consideration the observed variability in time gaps and change ratios.


2016 ◽  
Vol 3 (2) ◽  
pp. S64
Author(s):  
Shailesh Chandra ◽  
Parth Thakkar ◽  
Neel Pandya ◽  
Ajay Zalavadia

Author(s):  
Helena Breuer ◽  
Jianhe Du ◽  
Hesham Rakha

Existing literature on the relationship between ride-hailing (RH) and transit services is limited to empirical studies that lack real-time spatial contexts. To fill this gap, we took a novel real-time geospatial analysis approach. With source data on ride-hailing trips in Chicago, Illinois, we computed real-time transit-equivalent trips for all 7,949,902 ride-hailing trips in June 2019; the sheer size of our sample is incomparable to the samples studied in existing literature. An existing Multinomial Nested Logit Model was used to determine the probability of a ride-hailer selecting a transit alternative to serve the specific O-D pair, P(Transit|CTA)[1]. We find that 31% of ride-hailing trips are replaceable, whereas 61% of trips are not replaceable. The remaining 8% lie within a buffer zone. We measured the robustness of this probability using a parametric sensitivity analysis and performed a two-tailed t-test. Our results indicate that of the four sensitivity parameters, the probability was most sensitive to the total travel time of a transit trip. The main contribution of our research is our thorough approach and fine-tuned series of real-time spatiotemporal analyses that investigate the replaceability of ride-hailing trips for public transit. The results and discussion intend to provide perspective derived from real trips and we anticipate that this paper will demonstrate the research benefits associated with the recording and release of ride-hailing data. [1] This value defines the replaceability of the trip, where a value ranging from 0 to 0.45 is considered not-replaceable (NR), and a value ranging from 0.55 to 1.0 is considered replaceable (R).


2018 ◽  
Vol 9 (3) ◽  
pp. 41
Author(s):  
Takuya Hara

This paper presents a visualization methodology, in the form of a multi-dimensional techno-economic assessment diagram, to comprehensively illustrate the relationship between assumptions (sets of input parameters) and results (corresponding output variables). This methodology is applied to analyze the lifecycle costs and CO2 emissions of hybrid vehicles (HVs) and electric vehicles (EVs). This paper then develops an eight-dimensional interactive diagram showing the relative advantages of HVs or EVs in the input space consisting of the following parameters: HV fuel efficiency; EV energy efficiency, total mileage travelled gasoline price, electricity price, battery price, gasoline CO2 intensity, and electricity CO2 intensity. This methodology provides a map illustrating the comprehensive relationship between the inputs and outputs in the model used, where specific scenarios (specific sets of inputs and their outputs) are represented by points plotted on the map. This methodology can be used in systematic comparisons of electric vehicles and related uncertainty analyses.


2014 ◽  
Vol 21 (3) ◽  
pp. 153-158 ◽  
Author(s):  
He Zhu ◽  
Fernando A Wilson ◽  
Jim P Stimpson

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