Empirical estimates of fuel demand changes to price variation are based on historical consumption and prices, and can be applied as a single point estimate to a wide range of price movements. However, if fuel prices are set outside the boundaries of historical changes, policymakers may be concerned as to the validity of the empirically assessed price elasticity. We have developed a transport model to provide a techno-economic estimate of the price elasticity of fuel demand. It incorporates consumers’ choices as a result of several factors, including fuel substitutes, available transport modes, income, value of time and magnitude of price change.

Research Fellow Walid works on modeling energy systems. He is developing or has developed the following components of the KAPSARC Energy Model… Walid works on modeling energy systems. He is developing or has developed the following components of the KAPSARC Energy Model (KEM): electric power generation, oil refining, petrochemicals and fertilizers, cement production, and iron and steel. He is also working on a bottom-up residential electricity use framework that merges microeconomics with the physical laws governing electricity use.
Expertise
- Energy Systems Modeling
- Optimization
- Electricity Prices
- Energy Efficiency and the Interdisciplinary Connection Between Energy Economics and Engineering
Publications See all Walid Matar’s publications

Modeling the Distribution and Transshipment of Refined Oil Products
Empirical estimates of fuel demand changes to price variation are based on historical consumption and…
11th May 2023
Real Gross Domestic Income for Saudi Arabia From 1986 to 2021
Empirical estimates of fuel demand changes to price variation are based on historical consumption and…
4th April 2023