TY  - JOUR
T1  - Statistical Forecasting of Petrol Price in South Africa
AU - Matshonisa Seeletse, Solly AU - Femi Olayiwola, Matthew 
JO  - Journal of Engineering and Applied Sciences
VL  - 15
IS  - 2
SP  - 602
EP  - 606
PY  - 2020
DA  - 2001/08/19
SN  - 1816-949x
DO  - jeasci.2020.602.606
UR  - https://makhillpublications.co/view-article.php?doi=jeasci.2020.602.606
KW  - Autocorrelation function
KW  -correlogram
KW  -fuel price
KW  -stationarity
KW  -economic growth
KW  -South Africa
AB  - This study focuses on the commercial patterns of petrol price in South Africa. Its aim is to determine
the continuity of past patterns of the petrol price series into the future using time series techniques. About 14
years monthly-based retail fuel prices of unleaded 95 petrol were collected from the Department of Energy,
South Africa. Price settings on consumer goods are used for economic growth. On the other hand, sudden price
fluctuations inconvenience consumers. Also, price increases reduce disposable cash for the consumers. These
patterns reduce wealth and for the average consumer they may lead to poverty. The study results show that in
South Africa, the upward trend variation continues into the future petrol price in a quadratic rate while there
are also some indications of seasonality of petrol price.
ER  -