Table 3.3. Elasticity of car fuel consumption and fuel priceper litre

 

Effect of fuel price on:

Short term elasticity (mean elasticity)

Long term elasticity (mean elasticity)

Fuel consumption (total)

-0.25

-0.64

Fuel consumption per vehicle

-0.08

-1.1

Vehicle km (total)

-0.10

-0.29

Vehicle km per vehicle

-0.10

-0.30

Vehicle stock

-0.08

-0.25

 

Source: Goodwin et al (2004)[1]

[1]Altogether, 69 empirical studies have been analysed covering different periods spread over 62 years from 1929 to 1991 and which has been carried out in the UK or other countries comparable with the UK.