The Acceptable Alternative Vehicle Fuel Price
Antonina Kalinichenko (),
Valerii Havrysh () and
Igor Atamanyuk ()
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Antonina Kalinichenko: Institute of Technical Science, University of Opole, 45-040 Opole, Poland
Valerii Havrysh: Department of Tractors and Agricultural Machines, Operating and Maintenance, Mykolayiv National Agrarian University, 54020 Mykolayiv, Ukraine
Igor Atamanyuk: Department of higher and applied mathematics, Mykolayiv National Agrarian University, 54020 Mykolayiv, Ukraine
Energies, 2019, vol. 12, issue 20, 1-20
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.
Keywords: alternative fuel; conventional fuel; investment; lifetime; efficiency; mathematical model (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:12:y:2019:i:20:p:3889-:d:276514
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