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

Year 2014, Volume: 4 Issue: 3, 427 - 441, 01.09.2014

Aliyu Barde Abdullahi

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.

Keywords

Petroleum Product demand STSM Stochastic Trend

Year 2014, Volume: 4 Issue: 3, 427 - 441, 01.09.2014

Aliyu Barde Abdullahi

Abstract

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Details

Other ID JA48AV39NR
Journal Section Research Article
Authors

Aliyu Barde Abdullahi This is me

Publication Date September 1, 2014
Published in Issue Year 2014 Volume: 4 Issue: 3

Cite

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.
AMA Abdullahi AB. Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. IJEEP. September 2014;4(3):427-441.
Chicago Abdullahi, Aliyu Barde. “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”. International Journal of Energy Economics and Policy 4, no. 3 (September 2014): 427-41.
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 A. B. Abdullahi, “Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach”, IJEEP, vol. 4, no. 3, pp. 427–441, 2014.
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 2014), 427-441.
JAMA 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, 2014, pp. 427-41.
Vancouver Abdullahi AB. Modeling Petroleum Product Demand in Nigeria Using Structural Time Series Model (STSM) Approach. IJEEP. 2014;4(3):427-41.