Modelling oil product prices with due regard to proliferation of alternative fuels and tightening of technical standards

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vladimir Ulanov ◽  
Oleg Skorobogatko
Keyword(s):  
Fuel Consumption ◽  
Alternative Fuels ◽  
Alternative Fuel ◽  
Model Parameters ◽  
Product Price ◽  
Technical Standards ◽  
Content Type ◽  
Passenger Vehicles ◽  
Technical Requirements ◽  
The Impact

Purpose This paper aims to clarify the relationship between oil product prices and factors describing the most crucial emerging trends in fuel consumption. The work is aimed to test the hypothesis that the proliferation of alternative fuel cars is a significant factor in determining the level of motor fuel prices. The influence of technical standards of oil products on the model parameters is also analysed. Design/methodology/approach The hypothesis testing is carried out on the basis of an econometric analysis of information regarding the North-West European commodity market and the data on the registration of alternative fuel passenger vehicles. Time series are analysed for the presence of a structural shift in the parameters of the model as a result of changes in the requirements of technical regulations for fuel. Findings The results suggest a different nature of the influence of the proliferation of alternative fuel passenger vehicles – it has little effect on diesel prices, whilst the indicators under study have a negative effect on the prices of motor gasoline. The construction of oil product price models has confirmed the impact of tightening the technical requirements for the parameters of dependence equations. Practical implications The obtained results can be used in forecasting price indicators in oil refining for strategic and investment purposes. Originality/value This paper fulfils an identified need to take into account the emerging global trends in fuel consumption to obtain reliable parameters for oil product price modelling.

scholarly journals Ethanol/Gasoline Blends as Alternative Fuel in Last Generation Spark-Ignition Engines: A Review on CO and HC Engine Out Emissions

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 4034
Author(s):  
Paolo Iodice ◽  
Massimo Cardone
Keyword(s):  
Physicochemical Properties ◽  
Alternative Fuels ◽  
Experimental Studies ◽  
Alternative Fuel ◽  
Exhaust Emissions ◽  
Spark Ignition ◽  
Operating Conditions ◽  
Spark Ignition Engine ◽  
Spark Ignition Engines ◽  
The Impact

Among the alternative fuels existing for spark-ignition engines, ethanol is considered worldwide as an important renewable fuel when mixed with pure gasoline because of its favorable physicochemical properties. An in-depth and updated investigation on the issue of CO and HC engine out emissions related to use of ethanol/gasoline fuels in spark-ignition engines is therefore necessary. Starting from our experimental studies on engine out emissions of a last generation spark-ignition engine fueled with ethanol/gasoline fuels, the aim of this new investigation is to offer a complete literature review on the present state of ethanol combustion in last generation spark-ignition engines under real working conditions to clarify the possible change in CO and HC emissions. In the first section of this paper, a comparison between physicochemical properties of ethanol and gasoline is examined to assess the practicability of using ethanol as an alternative fuel for spark-ignition engines and to investigate the effect on engine out emissions and combustion efficiency. In the next section, this article focuses on the impact of ethanol/gasoline fuels on CO and HC formation. Many studies related to combustion characteristics and exhaust emissions in spark-ignition engines fueled with ethanol/gasoline fuels are thus discussed in detail. Most of these experimental investigations conclude that the addition of ethanol with gasoline fuel mixtures can really decrease the CO and HC exhaust emissions of last generation spark-ignition engines in several operating conditions.

scholarly journals An Attempt to Reduce the Emission of Spark-Ignition Engine with Mixtures of Bioethanol and Gasoline as Substitute Fuels

2019 ◽  
Vol 26 (3) ◽  
pp. 31-38
Author(s):  
Wojciech Gis ◽  
Maciej Gis ◽  
Piotr Wiśniowski ◽  
Mateusz Bednarski
Keyword(s):  
Carbon Dioxide ◽  
Fuel Consumption ◽  
Carbon Dioxide Emissions ◽  
Alternative Fuels ◽  
Negative Impact ◽  
Spark Ignition ◽  
Solid Particles ◽  
Spark Ignition Engine ◽  
Maximum Power ◽  
The Impact

Abstract Limiting emissions of harmful substances is a key task for vehicle manufacturers. Excessive emissions have a negative impact not only on the environment, but also on human life. A significant problem is the emission of nitrogen oxides as well as solid particles, in particular those up to a diameter of 2.5 microns. Carbon dioxide emissions are also a problem. Therefore, work is underway on the use of alternative fuels to power the vehicle engines. The importance of alternative fuels applies to spark ignition engines. The authors of the article have done simulation tests of the Renault K4M 1.6 16v traction engine for emissions for fuels with a volumetric concentration of bioethanol from 10 to 85 percent. The analysis was carried out for mixtures as substitute fuels – without doing any structural changes in the engine's crankshafts. Emission of carbon monoxide, carbon dioxide, hydrocarbons, oxygen at full throttle for selected rotational speeds as well as selected engine performance parameters such as maximum power, torque, hourly and unit fuel consumption were determined. On the basis of the simulation tests performed, the reasonableness of using the tested alternative fuels was determined on the example of the drive unit without affecting its constructions, in terms of e.g. issue. Maximum power, torque, and fuel consumption have also been examined and compared. Thus, the impact of alternative fuels will be determined not only in terms of emissions, but also in terms of impact on the parameters of the power unit.

scholarly journals Emission estimates and air quality impacts from the use of alternative fuels by the Titan cement factory in Thessaloniki

2013 ◽  
Vol 14 (2) ◽  
pp. 218-224
Keyword(s):  
Alternative Fuels ◽  
Fossil Fuels ◽  
Alternative Fuel ◽  
Cement Industry ◽  
Partial Replacement ◽  
Limit Values ◽  
Cement Factory ◽  
Pollution Levels ◽  
Fuel Substitution ◽  
The Impact

Cement production is an energy-intensive process. Utilisation of fossil fuels is common practice in the cement industry around the world. Alternative fuel substitution rates increase every year. More specifically, 18 % of the fuel used by the European cement industry in 2006 consists of alternative fuels. This study aims to investigate the prospects for the partial replacement of conventional fossil fuels currently used in the TITAN cement factory in Thessaloniki, Greece, with alternative fuels, focusing on the impact of alternative fuel use on the emissions of air pollutants from co-incineration operations. Air emissions were estimated for both the conventional fuel and mixtures of conventional fuel with alternative fuels, based on emission factors found in the literature but also using the measurements conducted by TITAN in 2010. Emission estimates indicate that legislative limit values for all pollutants are not exceeded. Based on the emission estimates and measurements in the flue gas, the dispersion of the plume around the factory has been described with an appropriate numerical simulation model. Results suggest that the factory’s contribution to the air pollution levels in the surrounding area is very low for most regulated pollutants.

Internationalization of industrial small-medium enterprises in an emerging country

2019 ◽  
Vol 33 (1) ◽  
pp. 71-94 ◽  
Author(s):  
Luis Enrique Ibarra-Morales ◽  
Monica Blanco-Jimenez ◽  
Beatriz Alejandra Hurtado-Bringas
Keyword(s):  
Export Performance ◽  
Negative Relationship ◽  
Multiple Regression Model ◽  
Product Price ◽  
Content Type ◽  
Emerging Country ◽  
Small Medium Enterprises ◽  
Medium Enterprises ◽  
Installed Capacity ◽  
The Impact

Purpose The purpose of this paper is to boost the internationalization of companies by implementing key factors that will help them to increase their exports in a context of an emerging country such as Mexico, where very few small- and medium-sized enterprises (SMEs) achieve internationalization. Design/methodology/approach According to different theories on the internationalization of companies, five independent variables were designed to measure their effect on the export performance using a multiple regression model on a sample of 95 Mexican industrial SMEs. In this context, the objective of this study is to investigate the impact of the product price, product quality, installed capacity, innovation capacity and financial capacity on the export performance of SMEs; and to identify the factors that are more significant. Findings The results indicate that innovation has a positive relationship, while the price of the product has a negative relationship with the internationalization of small- and medium-sized enterprises, showing that there is a possibility of overemphasizing the role of both variables in export performance of SMEs, at least in the Mexican context. The rest of the variables were not statistically significant to the generated model, perhaps because they are implicitly considered at the time of exporting and entering international markets. Originality/value These results will help companies to focus their efforts on obtaining resources to maintain and expand exports and find new opportunities in foreign markets to grow. They also show that companies can implement different types of internationalization strategies with the study’s variables to achieve better performance.

The impact of biomass consumption on CO2 emissions

2015 ◽  
Vol 7 (3) ◽  
pp. 348-358 ◽  
Author(s):  
Salih Turan Katircioglu
Keyword(s):  
Error Correction ◽  
Fuel Consumption ◽  
Fossil Fuel ◽  
Annual Data ◽  
Total Biomass ◽  
Content Type ◽  
Fossil Fuel Consumption ◽  
Equilibrium Relationship ◽  
The Impact

Purpose – The purpose of this study is to investigate the long-term equilibrium relationship between carbon dioxide (CO2) emissions and total biomass consumption (BC) in Turkey, which has a rich diversity of ecological conditions prevailing throughout its regions. Design/methodology/approach – Bounds tests and conditional error correction models under the autoregressive distributed lag approach have been applied to annual data that cover the 1980-2010 period. Findings – Results suggest that CO2 emissions are in a long-term equilibrium relationship with total BC in Turkey. BC has a negative effect on CO2 emissions; 1 per cent increase in total BC would lead to 0.029 per cent reduction in CO2 emissions. Long-term coefficient of fossil fuel consumption for CO2 emissions is positive and elastic, 1.247. Finally, conditional error correction model of the present study reveals that CO2 emission in Turkey converges to its economic long-term equilibrium very quickly by 93.7 per cent speed of adjustment through the channel of BC and fossil fuel consumption. Originality/value – Although there have been a considerable number of studies investigating the link between total energy consumption and CO2 emissions in the literature, searching the contribution of components of energy to CO2 emissions deserves attention. Therefore, this study contributes to the literature by investigating the effect of BC on CO2 emissions in the case of Turkey.

Analyzing conversion rates in online hotel booking

2016 ◽  
Vol 28 (2) ◽  
pp. 286-304 ◽  
Author(s):  
Asunur Cezar ◽  
Hulisi Ögüt
Keyword(s):  
Conversion Rate ◽  
Positive Impact ◽  
High Rank ◽  
Low Rank ◽  
Likelihood Method ◽  
Model Parameters ◽  
Successful Implementation ◽  
Content Type ◽  
Conversion Rates ◽  
The Impact

Purpose – The aim of this paper is to examine the impact of three main technologies on converting browsers into customers: impact of review rating (location rating and service rating), recommendation and search listings. Design/methodology/approach – This paper estimates conversion rate model parameters using a quasi-likelihood method with the Bernoulli log-likelihood function and parametric regression model based on the beta distribution. Findings – The results show that a high rank in search listings, a high number of recommendations and location rating have a significant and positive impact on conversion rates. However, service rating and star rating do not have a significant effect on conversion rate. Furthermore, room price and hotel size are negatively associated with conversion rate. It was also found that a high rank in search listings, a high number of recommendations and location rating increase online hotel bookings. Furthermore, it was found that a high number of recommendations increase the conversion rate of hotels with low ranks. Practical implications – The findings show that hotels’ location ratings are more important than both star and service ratings for the conversion of visitors into customers. Thus, hotels that are located in convenient locations can charge higher prices. The results may also help entrepreneurs who are planning to open new hotels to forecast the conversion rates and demand for specific locations. It was found that a high number of recommendations help to increase the conversion rate of hotels with low ranks. This result suggests that a high numbers of recommendations mitigate the adverse effect of a low rank in search listings on the conversion rate. Originality/value – This paper contributes to the understanding of the drivers of conversion rates in online channels for the successful implementation of hotel marketing.

Minimization of aircraft fuel consumption subjected to arrival time constraint

2020 ◽  
Vol 92 (7) ◽  
pp. 1063-1072
Author(s):  
Muhaned Gilani ◽  
Durmuş Sinan Körpe
Keyword(s):  
Fuel Consumption ◽  
Operating Cost ◽  
Time Constraints ◽  
Programming Algorithm ◽  
Time Of Arrival ◽  
Content Type ◽  
Design Variables ◽  
Aircraft Fuel ◽  
Optimum Speed ◽  
The Impact

Purpose This paper aims to minimize aircraft fuel consumption during the cruise phase when the flight is subjected to a specific time of arrival for different weights and distances. Design/methodology/approach The approach adopted herein uses sequential quadratic programming algorithm from MATLAB optimization toolbox, which includes a mathematical model of a jet airliner based on the Base of Aircraft Data as a function evaluator, to find out the impact of meet-time of arrival constraints on fuel consumption. The cruising speeds at predefined segments and the altitude are defined as the design variables. Findings The algorithm determines the optimum cruise altitudes and speeds for minimum fuel consumption in the case of no time constraints, also, for different time constraints where the flight time shall be reduced by increasing speed and lowering the altitude in most of the investigated cases. Practical implications The algorithm computes the optimum speed and the altitude according to different flight scenarios with the meet-time of arrival constraints for minimum fuel consumption which affects the direct operating cost of the flight. The algorithm might greatly help in decision-making for the meet-time of arrival operations. Originality/value Developing an algorithm to optimize the speed and the altitude of an aircraft based on weight and range for minimization of fuel consumption. It is a pioneer study in the literature that deals with the effect of meet-time constraints on fuel consumption.

DETERMINANTS OF CONSUMER BEHAVIOR: TRENDS AND DEMAND SEASONALITY

2017 ◽  
Author(s):  
Natalya Ovsyannikova ◽  
Keyword(s):  
Time Series ◽  
Consumer Behavior ◽  
Fuel Consumption ◽  
Diesel Fuel ◽  
Alternative Fuels ◽  
Retail Sales ◽  
On Demand ◽  
Demand Fluctuations ◽  
The Impact ◽  
Demand Seasonality

The article is devoted to forecasting demand based on the study of consumer behavior and the factors that determine this behavior. Identifying trends and assessing the impact of seasonality on demand generation is the first challenge in describing typical consumer choice behavior. The consumption effect describes how Habitual buying behaviour is Identifying trends and the seasonality of demand. The solution to the current task was to a retrospective analysis of retail sales. Such issues how the assessment of seasonality, the identification of a general trend, the interdependence of sales of alternative fuels have been researched under this article. The trends noted to decrease in the volume of fuel consumption, differences in the structure of retail turnover, and the total demand for motor fuel should be viewed as behavioral changes in the end-users. While gasoline and gas are mainly sold through the filling stations, the share of diesel fuel sales through filling stations is less than a fifth of the total sales. Structural changes in the retail fuel implication are that the fuel market is being replaced by cheaper substitutes - gas. In this article, we consider that the analysis of seasonality is the initial stage of forecasting the dynamics of demand. Seasonality was estimated for each fuel and for the group of motor fuels as a whole, for retail sales and total fuel consumption. The results of the analysis showed that gasoline and gas sales are moderate seasonality. Diesel fuel is characterized by the greatest amplitude of seasonal fluctuations. The seasonal activity the consuming-industries of diesel fuel explains the dynamics of demand, which is typical for secondary demand goods. Studying seasonality to determine its effect on demand includes: applying a multiplicative seasonality model for analyzing time series of demand and building a model for time series components; calculation of seasonality indices based on the average annual consumption level for prepare data and forecasting dynamics; comparison of peaks of seasonality and the amplitude of non-seasonal demand fluctuations to assess the impact of market factors. The study did not confirm that the seasonality of fuel consumption determines the seasonality of prices; no correlation was found between price fluctuations and the seasonality factor.

Quality preferences and pricing of fresh-cut salads in Italy: new evidence from market data

2017 ◽  
Vol 119 (7) ◽  
pp. 1473-1486 ◽  
Author(s):  
Vittoria Pilone ◽  
Antonio Stasi ◽  
Antonio Baselice
Keyword(s):  
Consumer Preferences ◽  
Hedonic Price ◽  
Product Price ◽  
Market Data ◽  
Content Type ◽  
Organic Certification ◽  
Fresh Cut ◽  
Real Market ◽  
Set Up ◽  
The Impact

Purpose In Europe fresh-cut fruit and vegetables, is one of the major growing segments in agro-food sector. Current literature reports a limited number of studies about consumers’ preferences towards these products. In particular, it lacks of studies focussed on fresh-cut salads and based on market data. In this paper, a study on consumer preferences towards the main attributes of Italian fresh-cut salads is proposed. More specifically the investigation is focussed on attributes assessable by consumers before purchase such as assortment, tenderness, product preparation and vegetable variety together with brand, size and type of packaging, presence of organic certification, promotion and product price. The purpose of this paper is to evaluate how much Italian consumers pay for those attributes with the aim to understand how much profitable could be different strategies in the sector. Design/methodology/approach The analysis is based on IRI-Infoscan scanner data, consisting of 881 fresh-cut products. The impact of each attributes on pricing is measured by means of a hedonic price model. Findings Main results show that, in Italy, fresh-cut salad price is greatly affected by tenderness, product preparation, assortment, brand, presence of organic certification, packaging attributes and vegetable variety. Practical implications Findings offer to producers the possibility to set up products by composing the mix of attributes that gives back the highest price. In addition, they provide some insights to define manufacturer’s strategies. Originality/value This paper represents a novelty in economic literature because it can be considered an example of consumer preferences analysis towards the different attributes of fresh-cut vegetables based on real market data.

New housing supply and price reactions: evidence from Spanish markets

2014 ◽  
Vol 7 (1) ◽  
pp. 4-28 ◽  
Author(s):  
Paloma Taltavull de la Paz
Keyword(s):  
Housing Market ◽  
Explanatory Power ◽  
Housing Prices ◽  
Model Parameters ◽  
Credit Crunch ◽  
Housing Supply ◽  
Recursive Procedure ◽  
Content Type ◽  
Spanish Regions ◽  
The Impact

Purpose – The paper develops a housing model equation for Spain and selected regions to estimate new supply elasticity. The aim of the paper is to assess the role of housing supply on price evolution and explain the fall in housing starts since the start of the credit crunch. Design/methodology/approach – The paper uses a pooled EGLS specification controlling for the presence of cross-section heteroskedasticity. Fixed effect estimators are calculated to capture regional heterogeneity. The model uses secondary data (quarterly) for 17 Spanish regions over the period 1990-2012. A recursive procedure is applied to estimate model parameters starting with a baseline model (1990-1999) and successively adding one-year time information. Elasticities, as well as explanatory power from models, are reported and jointly analyzed. Elasticity is interpreted as the extent to which market mechanisms drive developer responses. Findings – Elasticities of new supply are shown to be very stable during all periods but characterized by differences in response at a regional level. Elasticity ranges from 0.8 to 1.3 across regions. The model reports a non-market-oriented mechanism that guides building decisions. The credit crunch and debt crisis have had a double negative effect capturing the cumulative effect of exogenous shocks. Research limitations/implications – Elastic responses restrained the effects of over-pricing in the period of strong demand pressures in the early 2000s. Changes in elasticity parameters over time suggest that long-term elasticity in housing supply depends on the specific region analyzed. The results show that the credit crunch shock had varying degrees of severity in Spanish regions, dramatically reducing house-building because of the high sensitivity to changes in prices. Practical implications – Estimated elasticity may be used to forecast responses to changes in housing prices. The results add to the understanding of the equilibrium mechanism in the housing market across regions. Originality/value – This is the first article that analyses housing supply, calculates supply elasticities and measures the impact of the credit crunch on the housing market from the supply side in Spain. The paper adds evidence to the debate concerning the equilibrium mechanism in the housing market.

Sign in / Sign up

Export Citation Format

Share Document