Publication: Petroleum's price transmission and imported demand for crude oil in Thailand
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Issued Date
2014
Resource Type
File Type
application/pdf
ISSN
21464553
Other identifier(s)
2-s2.0-84904195756
Rights Holder(s)
มหาวิทยาลัยศรีนครินทรวิโรฒ
Bibliographic Citation
International Journal of Energy Economics and Policy. Vol 4, No.3 (2014), p.476-483
Suggested Citation
Chaiwat P., Tangvitoontham N. Petroleum's price transmission and imported demand for crude oil in Thailand. International Journal of Energy Economics and Policy. Vol 4, No.3 (2014), p.476-483. Retrieved from: https://hdl.handle.net/20.500.14740/6400
Author(s)
Abstract
The study of the petroleum price structures in Thailand reveals that diesel is the important fuel because it influences inflation and productions' costs. Government wants to keep diesel's price stability; meanwhile, it is less control in gasohol and petrol prices. These prices are normally higher than diesel's price in order to support the renewable energy and reduce the consumption behaviors. Real price elasticity of imported crude oil in short run is insignificant but in long run is about 0.0660 statistically significant. While, real income elasticity is about 0.4841 in short run and increase to 0.9969 in long run. The price transmissions from crude oil to petroleum products demonstrate the inequality distribution with symmetry adjustments. Additionally, the adjustment to the long-run equilibrium of petrol price is slower than diesel price. Therefore, the efficiency energy policies should be in consideration to decrease the country's energy consumption in the future.