scholarly journals Bubble Identification in the Emerging Economy Fuel Price Series: Evidence from a Generalized Sup Augmented Dickey–Fuller Test

Processes ◽  
2021 ◽  
Vol 10 (1) ◽  
pp. 65
Author(s):  
Mumtaz Ahmed ◽  
Muhammad Irfan ◽  
Abdelrhman Meero ◽  
Maryam Tariq ◽  
Ubaldo Comite ◽  
...  
Keyword(s):  
Natural Gas ◽  
High Speed ◽  
Price Change ◽  
Diesel Oil ◽  
Fuel Price ◽  
Economic Productivity ◽  
Fuel Prices ◽  
Price Bubbles ◽  
Price Series ◽  
Multiple Bubbles

In the recent past, the world in general and Pakistan in particular faced a drastic fuel price change, affecting the economic productivity of the country. This has drawn the attention of empirical researchers to analyze the abrupt change in fuel prices. This study takes a lead and investigates for the first time, in the literature related to Pakistan, the presence of multiple fuel price bubbles, with the purpose of knowing if the price driver is due to demand or it is exuberant consumer behavior that prevails and contributes to a sudden boom in fuel price series. The empirical analysis is performed through a recently proposed state-of-the-art generalized sup ADF (GSADF) approach on six commonly used fuel price series, namely, LDO (light diesel oil), HSD (high-speed diesel), petrol, natural gas, kerosene, and MS (motor spirit). The bubble analysis for each of the six fuel price series is based on monthly data from July 2005 to August 2020. The findings provide evidence of the existence of multiple bubbles in all series considered. Specifically, four bubbles are detected in each of the kerosene and natural gas price series, whereas three bubbles are noted in each of the HSD, LDO, petrol and MS price series. The maximum duration of occurrence of bubbles is of 12 months for kerosene. The date-stamping of the bubbles shows that the financial crisis of 2008 contributed to the emergence of bubbles that pushed oil prices upward and caused a depreciation in the national currency.

scholarly journals How Sensitivity of Energy Intake to Fuel Price Change: Evidence from Central Java

2018 ◽  
Vol 19 (1) ◽  
pp. 50
Author(s):  
Agus Widarjono
Keyword(s):  
Energy Intake ◽  
Income Elasticity ◽  
Price Change ◽  
Cash Transfer ◽  
Calorie Intake ◽  
Fuel Price ◽  
Fuel Prices ◽  
Central Java ◽  
Poor Households ◽  
The Impact

Because of high world oil prices during 2008-2013, the government must adjust domestic fuel price several times. One of the fuel price adjustments occurred in 2013. The increase in fuel prices caused high inflation. The purpose of this study is to analyze the impact of rising fuel prices on calorie consumption as a main source of energy intake  in Central Java Province. The results of this study indicate that calorie income elasticity increased both in urban and rural areas after the increase in fuel price. However, urban households are more responsive than rural households. An increase in calorie income elasticity means that households must allocate more expenditure on food consumption in order to fulfill minimum energy intake. These findings imply that cash transfer policies such as direct cash transfer for poor households known as BLT as well as rice policy for poor households as called Raskin are very effective to maintain minimum calorie intake during price crisis.

scholarly journals Impact of Rising Energy Prices on Consumer’s Welfare: A Case Study of Pakistan

2016 ◽  
Vol 55 (4I-II) ◽  
pp. 605-618
Author(s):  
Shamaila Aziz ◽  
Muhammad Rizwan Yaseen ◽  
Sofia Anwar
Keyword(s):  
Natural Gas ◽  
High Speed ◽  
Time Series Data ◽  
Price Change ◽  
Consumer Welfare ◽  
Initial Energy ◽  
Series Data ◽  
Energy Prices ◽  
Compensating Variation ◽  
The Impact

This work investigated the impact of higher energy prices on consumer’s welfare for the Pakistan from 1987 to 2012. The central objective of the study is to quantify the consumer welfare through Compensating Variation (CV) after estimating the demand elasticities by applying the Linear Almost Ideal Demand System (LA/AIDS) for main energy sources. Welfare change is also measured in four scenarios (two price shocks) for Pakistan in order to analyse the impact of energy price change in different time period. Coal, gasoline and High Speed Diesel (HSD) oil are relatively less elastic, where High Octane Blended Component (HOBC), kerosene and Compressed Natural Gas (CNG) are relatively more elastic, while electricity and natural gas is unit elastic. Additionally, the results of Compensating Variation suggest that due to higher energy prices, more income compensation is required to pay for consumer in order to achieve the initial energy utility. So mixture of price controlling and income policies should be adopted for each energy source. JEL Classification: D6, Q4 Keywords: Rising Energy Prices, Consumer Welfare, LA/AIDS, CV, Time Series Data

scholarly journals Numerical and Experimental Investigation of Combustion and Knock in a Dual Fuel Gas/Diesel Compression Ignition Engine

2012 ◽  
Vol 2012 ◽  
pp. 1-10 ◽  
Author(s):  
A. Gharehghani ◽  
S. M. Mirsalim ◽  
S. A. Jazayeri
Keyword(s):  
Natural Gas ◽  
Diesel Oil ◽  
Combustion Characteristic ◽  
Simultaneous Increase ◽  
Dual Fuel ◽  
Compression Ignition ◽  
Swirl Ratio ◽  
Characteristic Analysis ◽  
Mode Of Operation ◽  
Intake Pressure

Conventional compression ignition engines can easily be converted to a dual fuel mode of operation using natural gas as main fuel and diesel oil injection as pilot to initiate the combustion. At the same time, it is possible to increase the output power by increasing the diesel oil percentage. A detailed performance and combustion characteristic analysis of a heavy duty diesel engine has been studied in dual fuel mode of operation where natural gas is used as the main fuel and diesel oil as pilot. The influence of intake pressure and temperature on knock occurrence and the effects of initial swirl ratio on heat release rate, temperature-pressure and emission levels have been investigated in this study. It is shown that an increase in the initial swirl ratio lengthens the delay period for auto-ignition and extends the combustion period while it reduces NOx. There is an optimum value of the initial swirl ratio for a certain mixture intake temperature and pressure conditions that can achieve high thermal efficiency and low NOxemissions while decreases the tendency to knock. Simultaneous increase of intake pressure and initial swirl ratio could be the solution to power loss and knock in dual fuel engine.

Fuel price increase, subsidies, overcapacity, and resource sustainability

2008 ◽  
Vol 65 (6) ◽  
pp. 832-840 ◽  
Author(s):  
Ussif Rashid Sumaila ◽  
Louise Teh ◽  
Reg Watson ◽  
Peter Tyedmers ◽  
Daniel Pauly
Keyword(s):  
Price Increase ◽  
Positive Aspect ◽  
Significant Component ◽  
Fuel Price ◽  
Fuel Prices ◽  
Resource Sustainability ◽  
Price Increases ◽  
Fishing Sector ◽  
Fuel Subsidies ◽  
Fuel Costs

Abstract Sumaila, U. R., Teh, L., Watson, R., Tyedmers, P., and Pauly, D. 2008. Fuel price increase, subsidies, overcapacity, and resource sustainability. – ICES Journal of Marine Science, 65: 832–840. Global fisheries are currently overcapitalized, resulting in overfishing in many of the world’s fisheries. Given that fuel constitutes a significant component of fishing costs, we expect recent increases in fuel prices to reduce overcapacity and overfishing. However, government fuel subsidies to the fishing sector reduce, if not completely negate, this positive aspect of increasing fuel costs. Here, we explore the theoretical basis for the expectation that the increasing fuel prices faced by fishing enterprises will reduce fishing pressure. Next, we estimate the amount of fuel subsidies to the fishing sector by governments globally to be in the range of US$4.2–8.5 billion per year. Hence, depending on how much of this subsidy existed before the recent fuel price increases, fishing enterprises, as a group, can absorb as much as this amount of increase in their fuel budget before any conservation benefits occur as a result of fuel price increases.

scholarly journals Explaining European Emission Allowance Price Dynamics: Evidence from Phase II

2015 ◽  
Vol 16 (2) ◽  
pp. 181-202 ◽  
Author(s):  
Wilfried Rickels ◽  
Dennis Görlich ◽  
Sonja Peterson
Keyword(s):  
Phase Ii ◽  
Emission Trading ◽  
Price Dynamics ◽  
The European Union ◽  
Fuel Price ◽  
Fuel Switching ◽  
Price Series ◽  
Marginal Abatement Costs ◽  
Long Run ◽  
Trading Scheme

Abstract We empirically investigate potential determinants of the allowance price dynamics in the European Union Emission Trading Scheme during Phase II. In contrast to previous studies, we place particular emphasis on the fuel price selection. We show that results are extremely sensitive to choosing different price series of potential determinants, such as coal and gas prices. In general, only the influence of economic activity in Europe and hydropower provision in Norway is robustly explaining allowance price dynamics. The influence of fuel switching on allowance prices and, therefore, equalization of marginal abatement costs - in particular in the long run - is still rather small.

scholarly journals Fuel prices, restructuring, and natural gas plant operations

2018 ◽  
Vol 52 ◽  
pp. 153-172 ◽  
Author(s):  
Matthew Doyle ◽  
Harrison Fell
Keyword(s):  
Natural Gas ◽  
Fuel Prices ◽  
Plant Operations

A Comparative Study of Methane Combustion Characteristics with Different Additions in an Optical SI Engine

2021 ◽  
Author(s):  
Lin Chen ◽  
Xiao Zhang ◽  
Ren Zhang ◽  
Wanhui Zhao
Keyword(s):  
Natural Gas ◽  
Flame Propagation ◽  
Power Output ◽  
High Speed ◽  
Propagation Speed ◽  
Pressure Oscillation ◽  
Methane Combustion ◽  
Natural Gas Engines ◽  
Auto Ignition ◽  
Flame Propagation Speed

Abstract Natural gas is a promising fuel for IC engines with minimal modification, whereas its low power output and slow flame propagation speed remain a challenge for automobile manufacturers. To find a method of improving the natural gas engines, methane combustion with different additions was comparatively studied. High-speed direct photography and simultaneous pressure were performed to capture detailed combustion evolutions. First, the results of pure methane combustion confirm its good anti-knock property, and no pressure oscillation occurs even there is an end-gas auto-ignition, indicating that high compression ratio and high boosting are effective ways to improve the performance of natural gas engines. Second, adding heavy hydrocarbons can greatly improve engines' power output, but engine knock should be considered if low anti-knock fuel was used. Third, as a carbon-free and gaseous fuel, hydrogen addition can not only increase methane flame propagation speed but reduce cyclic variations. However, a proper fraction is needed under different load conditions. Last, oxygen-enriched combustion is an effective way to promote methane combustion. The heat release becomes faster and more concentrated, specifically, the flame propagation speed can be increased by more than 2 times under 27% oxygen concentration condition. The current study shall give insights into improving natural gas engines' performance.

Sign in / Sign up

Export Citation Format

Share Document