Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

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The Influence of Spring Festival on Chinese Gasoline Price

Authors
Zhaoyu Li1, *
1Faculty of Science, The University of Sydney, Sydney, 2006, Australia
*Corresponding author. Email: zhli5918@uni.sydney.edu.au
Corresponding Author
Zhaoyu Li
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-052-7_142How to use a DOI?
Keywords
Gasoline prices; spring festival; influential factors; Chinese market
Abstract

The highly uncertain nature of the globalised and diversified oil market has resulted in complex and volatile oil prices, which have attracted widespread international attention. In the author’s previous research, the changes in petrol prices before and after Chinese New Year in the Chinese community in Sydney, Australia, were found to be very different from those in other parts of Sydney. The author speculated that the abnormal fluctuations in gasoline prices were caused by festivals. Therefore, in this paper, the author explored whether gasoline prices in China had the same changes by examining the changes in the gasoline market in China before and after the Spring Festival. This paper selected the gasoline price data in Beijing, Shanghai and Guangdong for the whole year of 2021 and the first half of 2022 for statistical analysis. Then the results were compared with the change in petrol prices in Australia during the Chinese New Year. The paper concludes that petrol prices are indeed influenced by the Chinese New Year, but also by specific time and events, such as technological developments, the impact of war on the global economy including petrol market prices and the global spread of COVID-19.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
978-94-6463-052-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-052-7_142How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Zhaoyu Li
PY  - 2022
DA  - 2022/12/27
TI  - The Influence of Spring Festival on Chinese Gasoline Price
BT  - Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
PB  - Atlantis Press
SP  - 1275
EP  - 1280
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-052-7_142
DO  - 10.2991/978-94-6463-052-7_142
ID  - Li2022
ER  -