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This paper examines the effects of the number of active COVID19 cases on the wholesale prices of diesel and unleaded petrol (gasoline) across seven Australian states using daily data from 1 Jan 2020–11 September 2020. Our results indicate that statistically significant asymmetries with respect to COVID19 are observed in both wholesale unleaded petrol and diesel prices in all seven markets. When crude oil prices are falling substantially, the number of active COVID19 cases is highly significant in a negative relationship with petrol prices. However, when oil prices are rising (or not falling substantially), the negative effects of such a pandemic on fuel prices perplexingly disappear or become smaller. We find that the negative effects of COVID19 on diesel prices are more pronounced in more population-dense capital cities (i.e. Sydney and Melbourne). It is surprising to observe that the effects of COVID19 pandemic are driven by changes in oil prices: rising oil prices can substantially reduce the negative effect of this health pandemic on fuel prices. Our findings complement concerns from the national competition commission that while fuel prices have recently fallen to decades-long lows, fuel profit margins are at record high levels.
Abbas Valadkhani; Arezoo Ghazanfari; Jeremy Nguyen; Amir Moradi-Motlagh. The asymmetric effects of COVID19 on wholesale fuel prices in Australia. Economic Analysis and Policy 2021, 71, 255 -266.
AMA StyleAbbas Valadkhani, Arezoo Ghazanfari, Jeremy Nguyen, Amir Moradi-Motlagh. The asymmetric effects of COVID19 on wholesale fuel prices in Australia. Economic Analysis and Policy. 2021; 71 ():255-266.
Chicago/Turabian StyleAbbas Valadkhani; Arezoo Ghazanfari; Jeremy Nguyen; Amir Moradi-Motlagh. 2021. "The asymmetric effects of COVID19 on wholesale fuel prices in Australia." Economic Analysis and Policy 71, no. : 255-266.
Market efficiency is distorted when retailers are unwilling to pass on changes in wholesale costs or the price of oil (as a major production input cost) to motorists. Existing approaches to measuring pass-through parameters may obscure such behaviour because of the use of fixed-parameter models and/or aggregated price data across different locations and brands over time. We contribute to the literature by examining if there is a mismatch between wholesale and retail petrol prices across different brands supplying unleaded petrol within the same geographical location. To do so, we examine the effects of upstream shocks, arising from changes in oil or wholesale petrol prices, on the retail petrol prices of 672 stations in Sydney, Australia's largest city. We find that the pass-through parameters are significantly lower for stations with fewer competitors in their immediate proximity. When there are fewer than 13 petrol stations within a 5-km radius, or 33 stations within 10 km, irrespective of their brand, they become increasingly less responsive to changes in the wholesale petrol price or the price of crude oil. Our findings enhance market transparency and provide regulators with a rule of thumb that allows them to monitor the unleaded petrol market more effectively.
Abbas Valadkhani; Sajid Anwar; Arezoo Ghazanfari; Jeremy Nguyen. Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney. Energy Policy 2021, 153, 112278 .
AMA StyleAbbas Valadkhani, Sajid Anwar, Arezoo Ghazanfari, Jeremy Nguyen. Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney. Energy Policy. 2021; 153 ():112278.
Chicago/Turabian StyleAbbas Valadkhani; Sajid Anwar; Arezoo Ghazanfari; Jeremy Nguyen. 2021. "Are petrol retailers less responsive to changes in wholesale or crude oil prices when they face lower competition? The case of Greater Sydney." Energy Policy 153, no. : 112278.
Due to the high amount of natural gas resources in Iran, the gas cycle as one of the main important power production system is used to produce electricity. The gas cycle has some disadvantages such as power consumption of air compressors, which is a major part of gas turbine electrical production and a considerable reduction in electrical power production by increasing the environment temperature due to a reduction in air density and constant volumetric airflow through a gas cycle. To overcome these weaknesses, several methods are applied such as cooling the inlet air of the system by different methods and integration heat recovery steam generator (HRSG) with the gas cycle. In this paper, using a heliostat solar receiver (HSR) in gas and combined cycles are investigated by energy, exergy, and economic analyses in Tehran city. The heliostat solar receiver is used to heat the pressurized exhaust air from the air compressor in gas and combined cycles. The key parameter of the three mentioned analyses was calculated and compared by writing computer code in MATLAB software. Results showed the use of HSR in gas and combined cycles increase the annual average energy efficiency from 28.4% and 48.5% to 44% and 76.5%, respectively. Additionally, for exergy efficiency, these increases are from 29.2% and 49.8% to 45.2% and 78.5%, respectively. However, from an economic point of view, adding the HRSG increases the payback period (PP) and it decreases the net present value (NPV) and internal rate of return (IRR).
S. M. Alizadeh; Arezoo Ghazanfari; Mehdi Aliehyaei; Abolfazal Ahmadi; D. H. Jamali; Navid Nedaei; Afshin Davarpanah. Investigation the Integration of Heliostat Solar Receiver to Gas and Combined Cycles by Energy, Exergy, and Economic Point of Views. Applied Sciences 2020, 10, 5307 .
AMA StyleS. M. Alizadeh, Arezoo Ghazanfari, Mehdi Aliehyaei, Abolfazal Ahmadi, D. H. Jamali, Navid Nedaei, Afshin Davarpanah. Investigation the Integration of Heliostat Solar Receiver to Gas and Combined Cycles by Energy, Exergy, and Economic Point of Views. Applied Sciences. 2020; 10 (15):5307.
Chicago/Turabian StyleS. M. Alizadeh; Arezoo Ghazanfari; Mehdi Aliehyaei; Abolfazal Ahmadi; D. H. Jamali; Navid Nedaei; Afshin Davarpanah. 2020. "Investigation the Integration of Heliostat Solar Receiver to Gas and Combined Cycles by Energy, Exergy, and Economic Point of Views." Applied Sciences 10, no. 15: 5307.
This paper presents a distributed multi-layer cloud-fog computing architecture for the optimal energy management in the smart grids considering the high penetration of plug-in hybrid electric vehicles. The distributed framework is constructed on the basis of alternating direction method of multipliers (ADMM) to let neighboring agents to get into a consensus with each other. Due to the high attendance of various renewable energy sources looking like wind turbines and photolytic panels, it is tried to model the uncertainties based on Monte Carlo simulations. Three various charging layouts containing the smart charging, controlled charging and uncontrolled charging are assumed and compared in the smart grid test system. A powerful optimization method based on Grey Wolf Optimizer is proposed to solve the augmented Lagrangian function in each agent. The simulation results show clearly the appropriate efficiency of this layout.
Pengfei Duan; Hamid Soleimani; Arezoo Ghazanfari; Moslem Dehghani. Distributed Energy Management in Smart Grids Based on Cloud-Fog Layer Architecture Considering PHEVs. IEEE Transactions on Industry Applications 2020, 1 -1.
AMA StylePengfei Duan, Hamid Soleimani, Arezoo Ghazanfari, Moslem Dehghani. Distributed Energy Management in Smart Grids Based on Cloud-Fog Layer Architecture Considering PHEVs. IEEE Transactions on Industry Applications. 2020; (99):1-1.
Chicago/Turabian StylePengfei Duan; Hamid Soleimani; Arezoo Ghazanfari; Moslem Dehghani. 2020. "Distributed Energy Management in Smart Grids Based on Cloud-Fog Layer Architecture Considering PHEVs." IEEE Transactions on Industry Applications , no. 99: 1-1.
Motahareh Alsadat Majdzadeh; Arezoo Ghazanfari; Mohsen Mehr Ara. Determinants of Private Investment in Iran based on Bayesian Model Averaging. International Journal of Academic Research in Business and Social Sciences 2014, 4, 1 .
AMA StyleMotahareh Alsadat Majdzadeh, Arezoo Ghazanfari, Mohsen Mehr Ara. Determinants of Private Investment in Iran based on Bayesian Model Averaging. International Journal of Academic Research in Business and Social Sciences. 2014; 4 (7):1.
Chicago/Turabian StyleMotahareh Alsadat Majdzadeh; Arezoo Ghazanfari; Mohsen Mehr Ara. 2014. "Determinants of Private Investment in Iran based on Bayesian Model Averaging." International Journal of Academic Research in Business and Social Sciences 4, no. 7: 1.