The Acceptable Alternative Vehicle Fuel Price

Antonina Kalinichenko,Valerii Havrysh,Igor Atamanyuk

doi:10.3390/en12203889

Antonina Kalinichenko, Valerii Havrysh + Show 1 more

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https://doi.org/10.3390/en12203889

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Journal: Energies	Publication Date: Oct 15, 2019
Citations: 17	License type: CC BY 4.0

Affiliation: Opole University, Mykolayiv National Agrarian University

Abstract

Historically, petroleum fuels have been the dominant fuel used for land transport. However, the growing need for sustainable national economics has urged us to incorporate more economical and ecological alternative vehicle fuels. The advantages and disadvantages of them complicate the decision-making process and compel us to develop adequate mathematical methods. Alternative fuel (compressed natural gas, liquefied petroleum gas, and ethanol fuel mixtures), the standard prices and their ratios were investigated. A mathematical model to determine a critical ratio between alternative and conventional fuel prices had already been developed. The results of this were investigated. The results showed that the critical ratio is not a linear function on annual conventional fuel consumption costs. According to our simulation gaseous fuels were economically more attractive. Whereas, the use of bioethanol blends had more risk.

Highlights

Energy is a key element in sustaining the social and economic development of society
We the of ratio of alternative fuel and conventional fuel prices as an indicator of We examined the ratio of alternative fuel and fuel prices indicator alternative alternative fuel economics
Fuel price differentials depend on the absolute value of conventional fuel prices

Summary

Introduction

Energy is a key element in sustaining the social and economic development of society. The combustion of fossil fuels results in the release of harmful emissions into the atmosphere. The usage of hydrocarbon energy resources negatively effects climate change [4]. Improvements in living standard have resulted in an increase of fossil fuel consumption, especially in transportation [5,6]. That is why they are currently playing a dominant role despite the ecological effects [4]. Petroleum fuels are still dominant for all kinds of transport (air, marine, and land) because of their relatively high economic efficiency. Reserves of crude oil (feedstock for the conventional fuel production) are limited and exhaustible, and there has been a rise in the world crude oil price

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