scholarly journals Refined oil prices with family cars

Author(s):  
Aiqing Zhen ◽  
Cuxiao Huo ◽  
Chunqing Feng

Nowadays, more and more cars have begun to enter into innumerable families; the family car has become a necessity for Chinese households who have certain purchasing power. However, the ups and downs of oil prices have brought some impact on people's automobile consumption activities. Therefore, after collecting the information of the oil price and family car consumer, carried on through in-depth analysis of the relevant data with reasonable relationship, and then developed a suitable for China's national conditions and finished oil pricing model, thereby the National Development and Reform Commission have proposed the suggestion for China's refined oil pricing mechanisms and promoting the healthy development of new energy vehicles with specific measures. For question 1, through the problem analysis and information access, combined with the past and current situation of the domestic refined oil prices, we analyze the following seven factors: international crude oil prices, China's annual crude oil imports, China's annual crude oil exports, crude oil output in China, China's annual GDP per capita, China's annual consumption of crude oil, the total annual energy consumption in China, all have influence on China's refined oil prices. By monadic linear regression analysis, annual average prices of domestic refined oil products have a certain correlation with the various influencing factors, and then by multiple linear regression way eventually concluded the final relationship between oil prices and the influence factors, which compared with the current price, and make reasonable evaluation model. Through the establishment of various influencing factors and function of time, and using the evaluation model for refined oil product price to make reasonable forecast. According to this model, in order to predict refined oil product price as $122.15 per barrel in 2016. For question two, we basically sums up three key factor which influence the quantity of family vehicle: China's oil product prices, the annual GDP per capita, total road mileage. Through Excel to make the relationship curves of different quantity of family cars against influencing factors, and use Grey Forecasting method to forecast the quantity of family cars. And carries on the residual error test, it is used to conclude that the rationality of the model is highly. The number of private cars of the city of xi 'an is predicts that to 8.302 million vehicles by 2020. For question three, we discussed the relationship between international crude oil prices and domestic exports of crude oil export with domestic refined oil prices, through its multiple linear regressions to get the final pricing model. For question four, according to three previous established models, we proposed China's refined oil pricing mechanism proposal to the national development and Reform Commission: perfect price controls, deeper product market, and integration of resources consideration and environmental protection class tax types, adjust the consumption tax collection and Administration links, and improve the production cost accounting.

2012 ◽  
Vol 11 (02) ◽  
pp. 233-246
Author(s):  
BEZALEL GAVISH ◽  
ROYI GAVISH

The production and consumption of crude oil became a major issue with the sharp increase in crude oil prices that took place during the last few months. We investigate the relationship between crude oil consumption and the GDP of the top crude oil consuming countries. The amount of GDP produced per barrel of crude oil varies significantly between different countries; the ratio is in the range of 2% to 10% of the GDP when the price of a barrel of crude oil is $100. The paper attempts to explain the high variability with the aim of learning from high GDP producers as to how they are able to generate a larger GDP per barrel of crude oil consumption. The paper also identifies a hysteresis effect in crude consumption reduction and illustrates how understanding it can lead to better production and conservation policies.


2020 ◽  
Vol 2 (1) ◽  
pp. 1-11
Author(s):  
Premkumar Rajnathan

Crude oil is influencing every productivity activity of human life either directly or indirectly. The prices of crude oil also influence the international financial markets. This influence connects the oil market with that of capital market since stock market provides it necessary resources for investment and financing the production. In this study, the objective was to test the relationship between crude oil prices and selected sectors of Indian economy. Furthermore, the study also tests the effects of international crude oil prices on the Indian stock exchange market. The main objective was to test the conditional correlation of the crude oil price and equity returns of selected sectors of the Indian economy as well as the performance indicators of the Indian stock market using bivariate volatility models.


2015 ◽  
Vol 21 (2) ◽  
Author(s):  
SOFIANE ABOURA

<p class="ESRBODY">We investigate, for the first time, the relationship between gasoline volatility and crude oil volatility. We aim to examine if the so-called asymmetric relationship between gasoline and crude oil prices holds for volatility. The approach employed is based on the asymmetric dynamic conditional correlation model as applied to the US WTI oil volatility and the French Super Carburant 95 gasoline volatility from 1990 to 2014.</p>The results reveal that gasoline volatility tends to be overreactive to changes in crude oil volatility. Moreover, it appears that the government taxation policy might amplify the gasoline volatility


OPEC Review ◽  
1984 ◽  
Vol 8 (4) ◽  
pp. 341-349 ◽  
Author(s):  
M. Desmond Fitzgerald ◽  
Gerald Pollio

Author(s):  
Emrah I Cevik ◽  
Sel Dibooglu ◽  
Tugba Kantarci ◽  
Hande Caliskan

There is a strong correlation between energy prices and economic activity. The relationship particularly holds true for crude oil as changes in oil prices are associated with changes in production costs, and economic activity also generates significant demand for energy and crude oil. This chapter examines the relationship between economic activity and crude oil prices using causality tests in the frequency domain and taking into account the difference between positive and negative changes in both oil prices and economic activity as the relationship can be asymmetric. The authors present empirical results for major emerging economies including Brazil, Russia, India, China, South Africa, and Turkey. Empirical results indicate that for most countries there is bidirectional causality between crude oil prices and economic activity whereas only negative oil price shocks seem to negatively affect economic activity.


2020 ◽  
Vol 10 (5) ◽  
pp. 234-242
Author(s):  
Benlaria Houcine ◽  
Gheraia Zouheyr ◽  
Belbali Abdessalam ◽  
Hadji Youcef ◽  
Abdelli Hanane

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