The impact of fuel price changes can be seen in practically all sectors of the United States economy. Fuel prices directly and indirectly influence the daily life of most Americans. The national economy as well as the high standard of living we have come to enjoy in the United States is run on gasoline. Since the late 1990's the days of cheap oil and $1.00 gallons of gas are clearly over, understanding the influences of fuel price is more important now than ever. Since 1998 regular gasoline prices have increased $0.22 per gallon per year on average through the present with little evidence suggesting this trend will slow down or reverse substantially. The drastic and permanent change to the status quo of fuel prices has potentially rendered traditional knowledge of fuel price elasticities inapplicable to current analysis. Obtaining accurate measures of fuel price elasticities is important as it is used as a measure of personal mobility and can be related to the quality of life the public is experiencing. Price elasticities are also used in determining the future revenue available for surface transportation projects. Traditionally, short-run fuel price elasticities are thought to be inelastic allowing transportation agencies to ignore short-run fuel price changes to some degree when creating future projects and evaluating its economic feasibility. By using driving data collected from The National Evaluation of a Mileage-based Road User Study the fuel price elasticity of vehicle-miles traveled (VMT), as well as the sensitivity of gas prices relative to a historical high price, were estimated for the first year study participants using a panel data set approach with linear regression. The short-run fuel price elasticity of VMT was determined to be -1.71 with a range of -1.93 and -1.48. The elasticities found were significantly higher than the average short-run fuel price elasticity of -0.45 but can be rationalized by the impact poor economic conditions as well as the historically high fuel prices experienced prior to the researches time table had on the individuals driving behavior. The results suggest current short-run elasticities are not inelastic, if this trend continues transportation agencies must re-evaluate how they predict the future funding available for surface transportation projects.

This thesis deals with understanding drivers influencing the end price of fuel in the Czech Republic and ramifications for relevant companies. Its aim is to provide a comprehensive understanding of all relevant elements have been influencing end prices of gasoline and diesel during last 8 years, understand their leverage and uncover which of those were the most important for this development. These are then researched using mainly graphical analysis and basic statistical tools. The delivery is that both prices of gasoline and diesel are highly correlated with the price development of crude oil and the prices of their respective commoditized barges expressed in the nominal value of CZK. It was also discovered that there are visible tendencies for asymmetrical pricing reaction and reaction lags, which could serve as a basis for a follow-up work. Based on these findings several conclusive recommendations for relevant companies were built and delivered.

In high-motorisation, car-dependent countries, transport affordability is intimately linked to the price of oil derived motor fuels, which may become increasingly volatile in the future due to global oil price movements and environmental taxation. The negative impacts of fuel price spikes in terms of increased household expenditure and economic stress are unevenly spatially and socially distributed. Previous research has found that vulnerability to fuel price increases is higher in peripheral, peri-urban and rural areas, and that low income tends to be co-located with high car dependence and low vehicle fuel efficiency, with a compounding effect on vulnerability. The goal of this article is to test these hypotheses for England, providing new evidence on spatial patterns of vulnerability to fuel price increases at the small-area level. We propose a composite vulnerability indicator combining data on income, accessibility, vehicle inspection and vehicle registration for 2011. Within English city-regions, we find little evidence of the socially regressive patterns previously identified in the literature. This is explained by the persistent concentration of poverty in urban cores, as well as by the poor fuel economy of the vehicle fleet in wealthier areas, due to the prevalence of powerful vehicles there. On the other hand, our analysis suggests that the impacts of fuel price increases would be very unequal between city-regions, as the least sensitive metropolitan area (Greater London) is also characterised by high levels of adaptive capacity. We conclude by setting out an agenda for future research on spatial vulnerability to fuel price increases.

Understanding how car travel and ownership respond to income and fuel prices, and how that response varies between households is crucial for car use policies and forecasts. This thesis, consisting of two papers, aims to investigate this by estimating the intemporal income and fuel price elasticities of car use using micro registry panel data on all Swedish households from 1998 to 2018. In Paper I, the income and fuel price elasticities of vehicle kilometres travelled (VKT) is estimated for all Swedish households using a linear fixed effects model. In order to investigate how different groups respond, the elasticities are estimated by income group and municipality type. The effect of income and fuel prices on VKT is largest in the middle of the income distribution but is relatively stable across municipality types. The effect of fuel prices on VKT is largest in densely populated municipalities compared to rural municipalities. Moreover, it is shown that the income elasticity is underestimated if income variable is misspecified. Paper II utilises a discrete-continuous model accounting for the effect of income and fuel prices on car ownership. It is shown that income impacts car ownership and VKT conditional on car ownership of similar magnitude, while fuel prices primarily impact VKT conditional on car ownership. Furthermore, we also estimate the model on six partially overlapping sample periods and find that the income elasticity has decreased over time, while the absolute fuel price elasticity increased up until the early 2010s and decreased thereafter. / <p>2022-10-13: ISBN (PDF) has been added in the E-version.</p>

Understanding how car travel and ownership respond to income and fuel prices, and how that response varies between households is crucial for car use policies and forecasts. This thesis, consisting of two papers, aims to investigate this by estimating the intemporal income and fuel price elasticities of car use using micro registry panel data on all Swedish households from 1998 to 2018. In Paper I, the income and fuel price elasticities of vehicle kilometres travelled (VKT) is estimated for all Swedish households using a linear fixed effects model. In order to investigate how different groups respond, the elasticities are estimated by income group and municipality type. The effect of income and fuel prices on VKT is largest in the middle of the income distribution but is relatively stable across municipality types. The effect of fuel prices on VKT is largest in densely populated municipalities compared to rural municipalities. Moreover, it is shown that the income elasticity is underestimated if income variable is misspecified. Paper II utilises a discrete-continuous model accounting for the effect of income and fuel prices on car ownership. It is shown that income impacts car ownership and VKT conditional on car ownership of similar magnitude, while fuel prices primarily impact VKT conditional on car ownership. Furthermore, we also estimate the model on six partially overlapping sample periods and find that the income elasticity has decreased over time, while the absolute fuel price elasticity increased up until the early 2010s and decreased thereafter.

本論文共一冊，計八萬字，分五章十五節。 本研究主要目的有三：（一）探討國內股票市場是否符合半強強效率市場假設，（二 ）探討股票價格是否正確充分地反映國內油品價格調整之資訊，（三）了解油品價格 調整對各產業股票價格之影響程度。 本研究由台灣石油公司業務處取得（六十六年至七十五年）油品價格調整時期及調整 福度，並由證交資料及經濟日報、工商時報取得各產業（水泥窯製類、食品類、塑膠 化工類、紡織纖維類、機電類、造紙類及營造建材類）的股價指數及股市發行量加權 股價指數。採用市場模式研究，並以D－W檢定,Ｒ2值、t檢定、F檢定、Kolmogorov－ Simirnov D－Statisitic檢定及Tukey之Stem Leaf圖示、Box 圖示來確定模式。再以 殘差分析（包括平均殘差分析及累積平均殘差分析）及異常績效指標分析檢驗證半強 勢效率市場之假設。 本研究結果發現，在油品價格調整日之前有資訊效果，在調整日之後，市場顯現效率 性，總合來說，國內股市符合半強勢效率市場之假設。

Baigiamajame bakalauro darbe nagrinėjamos Šiaulių miesto daugiabučių namų šilumos kainų kitimo priežastys ir galimi būdai kaip jas sumažinti. Šilumos tiekimas yra viešąjį interesą atitinkanti paslauga, kuria naudojasi daugelis miesto gyventojų. Kylančios centralizuotai tiekiamos šilumos sektoriaus paslaugų kainos kelia nepasitenkinimą tarp šilumos vartotojų, kurie tų kainų svyravimus pajaučia gaudami didesnes sąskaitas už šildymą. Aptarus šilumos energijos sektoriaus ypatumus, šilumos kainą lemiančius veiksnius, nustatymo metodiką bei institucijas, reguliuojančias šilumos ūkį, buvo išnagrinėti pagrindiniai veiksniai, turintys įtakos šilumos kainų pokyčiams. Atlikta šilumos kainos struktūrinė analizė. Įvertinta Šiaulių termofikacinės elektrinės teikiama nauda gyventojams. Atliktas šilumos kainos tarifo ir alternatyvaus kuro šildymui vidutinių kainų tyrimas. Pateikta mokėjimų už šilumą analizė, nagrinėjant atskiras pastatų grupes, daugiabučių pasiskirstymą pagal bendrijas ir renovuotus bei nerenovuotus namus. Vertinant šilumos kainą lemiančius veiksnius atlikta daugialypė regresinė analizė. Išnagrinėjus teorinius ir praktinius daugiabučių namų šilumos kainų aspektus, pateikiamos baigiamojos darbo išvados ir siūlymai kaip sumažinti šilumos kainas. Darbą sudaro 6 dalys: įvadas, du skyriai, išvados ir rekomendacijos, literatūros sąrašas. Darbo apimtis – 69 p. teksto be priedų, 7 lent., 16 pav., 43 šaltiniai. / The final bachelor‘s paper deals with reasons of the heat price changes and the posibilities of reducing them in Siauliai city. The heat supply is a service of the public interest, which is used by many population of the city. The rising prices of district heating sector services, raises the dissatisfaction among users of the heat fluctuations in the consciousness of those receiving the higher heating bills. After dealing with the thermal energy sector, the heat price determinants, detection methods and institutions to regulate the heating system, the major factors affecting the heat price changes were explored. Structural analysis of the rates of heat was accomplished. The benefit for people of the thermal power plant in Siauliai was assessed. Also the heat price tariff and alternative fuel for heating medium-price test was accomplished. Presented payments for heat analysis, examining the separate groups of buildings, multi-distribution of communities and renovated houses. In assessing the determinants of the price of heat conducted multiple regression analysis. The examination of the theoretical and practical aspects of the apartment home prices, the conclusions of the work and proposals on how to reduce the heat are presented in the final work. The paper consist of the followings 6 parts: introduction, two sections, conclusions and recommendations, list of references. Amount of paper – 69 pages of text without annexes, 7 tables, 16 illustrations, 43 sources.

This thesis uses innovative approaches to analyse energy policy interventions aimed at enhancing the environmental sustainability of energy use as well as its consequential welfare implications. First, we examine the relationship between energy efficiency improvement and CO2 emissions at the macro level. We use the Index Decomposition Analysis to derive energy efficiency by separating out the impact of shifts in economic activity on energy intensity. We then employ econometric models to relate energy efficiency and CO2 emissions accounting for non-economic factors such as consumers lifestyle and attitudes. The applications for 13 OPEC and 30 OECD countries show that at the country-group and individual country level, increase in energy intensity for OPEC is associated with both deteriorations in energy efficiency and shifts towards energy-intensive activities. The model results suggest that the reduction in energy efficiency in general go in tandem with substantial increases in CO2 emissions. The decline in energy intensity for OECD can be attributed mainly to improvements in energy efficiency which is found to compensate for the impact on CO2 emissions of income changes. The results confirm the empirical relevance of energy efficiency improvements for the mitigation of CO2 emissions. The method developed in this chapter further enables the separate assessment of non-economic behavioural factors which according to the results exert a non-trivial influence on CO2 emissions. Secondly, having empirically confirmed the relationship between energy efficiency improvements and CO2 emission at the macro level in Chapter 2, we investigate potential underlying drivers of energy efficiency improvements taking into account potential asymmetric effects of energy price change in Chapter 3. This is crucial for designing effective and efficient policy measures that can promote energy efficiency. In addition to the Index Decomposition Analysis used to estimate the economy-wide energy efficiency in Chapter 2, we also use Stochastic Frontier Analysis and Data Envelop Analysis as alternative methods. The driving factors are examined using static and dynamic panel model methods that account for both observed and unobserved country heterogeneity. The application for 32 OECD countries shows that none of the three methods leads to correspondence in term of ranking between energy efficiency estimates and energy intensity at the country level corroborating the criticism that energy intensity is a poor proxy for energy efficiency. The panel-data regression results using the results of the three methods show similarities in the impacts of the determinants on the energy efficiency levels. Also, we find insignificant evidence of asymmetric effects of total energy price but there is proof of asymmetry using energy specific prices. Thirdly, in Chapter 4 we offer an improved understanding of the impacts to expect of abolishing fuel price subsidy on fuel consumption, and also of the welfare and distributional impacts at the household level. We develop a two-step approach for this purpose. Key aspect of the first step is a two-stage budgeting model to estimate various fuel types elasticities using micro-data. Relying on these estimates and the information on households expenditure shares for different commodities, the second step estimates the welfare (direct and indirect) and distributional impacts. The application for Nigeria emphasises the relevance of this approach. We find heterogeneous elasticities of fuel demand among household groups. The distributional impact of abolishing the kerosene subsidy shows a regressive welfare loss. Although we find a progressive loss for petrol, the loss gap between the low- and high-income groups is small relative to the loss gap from stopping kerosene subsidy, making the low-income groups to suffer a higher total welfare loss. Finally, from the highlighted results, we draw the following concluding remarks in chapter 5. Energy efficiency appears a key option to mitigate CO2 emissions but there is also a need for additional policies aiming for behavioural change; energy specific prices and allowing for asymmetry in analysing the changes in energy efficiency is more appropriate and informative in formulating reliable energy policies; the hypothesis that only the rich would be worse-off from fuel subsidy removal is rejected and the results further suggest that timing of the fuel subsidy removal would be crucial as a higher international oil price will lead to higher deregulated fuel price and consequently, larger welfare loss.