price as instruments for a country's average gasoline pump price. We obtain estimates of the long-run price elasticity of … gasoline demand of between −0.2 and −0.5. Using newly available data for a sub-sample of 43 countries, we also find that higher … gasoline prices induce consumers to substitute to vehicles that are more fuel-efficient, with an estimated elasticity of 0 …

prices are determined by shocks to the supply and demand for oil tankers, to the utilization of tankers, and to the cost of …-trip voyage rates. Oil exports from the Arabian Gulf also decline, reflecting lower demand for VLCCs. Positive utilization shocks …. Tanker supply and tanker demand shocks have persistent effects on time charter rates, round-trip voyage rates, the volume of …

conclusion that the one-month oil supply elasticity is close to zero, which implies that oil demand shocks are the dominant …This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand …