Price elasticity estimates of deman for selected petroleum products in the Philippines
Date
2011-10-14
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Abstract
This This paper presents an econometric analysis of the price elasticity of demand for selected petroleum products to determine whether or not the demand for petroleum The price inelastic. The data used are annual series data from 1981-2009 and the Diesel, Gasoline, studied are Turbo Gasoline, Kerosene. The
empirical Turbo and Kerosene. The empirical analysis used to get the price elasticity of each petroleum product is The logistic linear model for regression. The results of the study show that the demand elasticizes for all the petroleum products we studied are price inelastic.
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Keywords
Petroleum, Elasticity of demand, Diesel, Gasoline