Determinants of Oil Consumption in the Transport Sector of the Philippines

Date

6-2024

Degree

Bachelor of Science in Economics

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Gideon P. Carnaje

Committee Member

Rowena A. Dorado, Ma. Angeles O. Catelo

Abstract

The Philippines ranks 36th out of 214 countries with the highest oil consumption. Of the five sectors, the transport sector holds approximately 65 percent of the total oil usage of the country. Given this background and context, the present study has as its general objective the identification of the factors affecting transport sector oil consumption in the Philippines. Specifically, the study assessed the trend in the consumption of oil and some relevant macroeconomic variables since the 1990s and then used the Ordinary Least Squares (OLS) method to identify the macroeconomic variables that significantly affect the transport sector oil consumption covering the period of 1990 to 2021. The main finding of the study is that oil price and population have significant and negative effect on oil consumption in the transport sector while real GDP has positive and significant effect on oil consumption in the transport sector. These findings suggest that government and private agencies that try to influence or anticipate oil consumption in the transport sector must pay particular attention to movement of oil price and the level of economic activity. Further studies that will verify the effect of population on oil consumption in the transport sector are needed.

Language

English

LC Subject

Consumption (Economics)

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2024 E2 C79

Notes

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Document Type

Thesis

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