AN ECONOMETRIC MODEL OF THE INFLUENCE OF PETROL PRICE ON TRAFFIC LEVELS IN GREATER LONDON

An econometric model relating traffic levels to the price of petrol and other variables has been developed using data from automatic traffic counters in the Greater London area. The data are monthly and divided by time of day and day of week. Estimates of price elasticity vary from -0.08 during the peak to -0.14 at the weekend. Secular growth and seasonal variation in traffic levels have also been determined and the effect of the two month petrol shortahe in 1973-74 has been isolated. Evidence is presented which suggests that a structural change in the parameters which determine traffic volumes has occurred as a result of permanently higher petrol prices. /Author/

• Supplemental Notes:
  • This paper appears in "Urban Traffic Models", which is a publication containing the Proceedings of Seminar N of the Summer Annual Meeting at University of Warwick, England during July, 1975.
• Corporate Authors:

  Planning and Transport Res and Computation Co Ltd

  167 Oxford Street
  London W1R 1AH,   England 
• Authors:
  • Atkinson, D
  • Lewis, D
• Publication Date: 1975-7

Media Info

• Features: Figures; References; Tables;
• Pagination: p. 185-199
• Serial:
  • Publication of: IRCOBI SECRETARIAT
  • Publisher: IRCOBI (International Research Council on the Biokinetics of Impacts)

Subject/Index Terms

• TRT Terms: Econometric models; Gasoline; Prices; Seasons; Traffic counts; Traffic volume
• Uncontrolled Terms: Seasonal variations
• Subject Areas: Highways; Operations and Traffic Management;

Filing Info

• Accession Number: 00148096
• Record Type: Publication
• Report/Paper Numbers: P122
• Files: TRIS
• Created Date: Feb 23 1977 12:00AM