Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach

Volume: 4 Number: 3 September 1, 2014
  • Aliyu Barde Abdullahi
International Journal of Energy Economics and Policy Cover
International Journal of Energy Economics and Policy
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Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach

Abstract

In this paper, the demand function for five major petroleum products consume in Nigeria namely gasoline, diesel, kerosene, fuel oil, liquefied petroleum gas (LPG) and aggregate was estimated using Structural Time Series Models (STSMs) which accounts for structural changes in energy demand estimation. STSMs incorporate stochastic rather than deterministic trend which is more general and therefore argued to be more appropriate in this study. The results suggest that the demand for petroleum products in Nigeria is both price and income inelastic and the underlying demand trends were generally stochastic in nature. LPG has relatively higher elasticities than the rest of the petroleum products, namely kerosene, gasoline, diesel and fuel oil.

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Primary Language

English

Subjects

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Journal Section

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Authors

Aliyu Barde Abdullahi This is me

Publication Date

September 1, 2014

Submission Date

September 1, 2014

Acceptance Date

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Published in Issue

Year 2014 Volume: 4 Number: 3

IZ

https://izlik.org/JA54DH83JS

Cite

RIS / Bibtex
APA
Abdullahi, A. B. (2014). Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. International Journal of Energy Economics and Policy, 4(3), 427-441. https://izlik.org/JA54DH83JS
AMA
1.Abdullahi AB. Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. IJEEP. 2014;4(3):427-441. https://izlik.org/JA54DH83JS
Chicago
Abdullahi, Aliyu Barde. 2014. “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”. International Journal of Energy Economics and Policy 4 (3): 427-41. https://izlik.org/JA54DH83JS.
EndNote
Abdullahi AB (September 1, 2014) Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. International Journal of Energy Economics and Policy 4 3 427–441.
IEEE
[1]A. B. Abdullahi, “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”, IJEEP, vol. 4, no. 3, pp. 427–441, Sept. 2014, [Online]. Available: https://izlik.org/JA54DH83JS
ISNAD
Abdullahi, Aliyu Barde. “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”. International Journal of Energy Economics and Policy 4/3 (September 1, 2014): 427-441. https://izlik.org/JA54DH83JS.
JAMA
1.Abdullahi AB. Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. IJEEP. 2014;4:427–441.
MLA
Abdullahi, Aliyu Barde. “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”. International Journal of Energy Economics and Policy, vol. 4, no. 3, Sept. 2014, pp. 427-41, https://izlik.org/JA54DH83JS.
Vancouver
1.Aliyu Barde Abdullahi. Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. IJEEP [Internet]. 2014 Sep. 1;4(3):427-41. Available from: https://izlik.org/JA54DH83JS