The study reported here was designed to derive better information on market responses to transport fuel price changes in New Zealand. The study involved econometric analyses of the impacts of transport fuel (petrol/diesel) price changes on fuel consumption (petrol/diesel), traffic volumes (cars/trucks) and public transport patronage levels. This paper covers only part of the study, concerned with the impacts of petrol price changes on petrol consumption (period 1974-2006) and on car/light van traffic volumes (2002-2006). It focuses primarily on the price elasticity estimates obtained (in the short run and long run) and compares these with other elasticity evidence from New Zealand, Australia and internationally: from this appraisal, it suggests the most appropriate elasticity values for use for policy analyses purposes in New Zealand. (a) For the covering entry of this conference, please see ITRD abstract no. E214666.
Samenvatting