Energy Policy, Vol.25, No.1, 55-61, 1997
Demand for oil products in the GCC countries
The purpose of this study is to estimate the price and income elasticities of oil products demand in the GCC countries. Annual data spanning the period 1970-91 were fitted to a partial adjustment model to obtain the estimates, The main finding of the study is that both price and income are relatively inelastic in the short-run, and there has been a great variation in these elasticities among fuels and cross-country.