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ARPN Journal of Science and Technology >> Volume 7, Issue 1, January 2017

ARPN Journal of Science and Technology


Analysis of Traffic Volume Characteristics in Relation to Oil Price Change

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Author Jung-Ah Ha
ISSN 2225-7217
On Pages 624-630
Volume No. 4
Issue No. 11
Issue Date December 01, 2014
Publishing Date December 01, 2014
Keywords Traffic volume, oil price, correlation, a traffic policy



Abstract

This study analyzes the changes in traffic volume data in relation to oil price change as one of the method for analysis of traffic volume data, which is used as important basic data in traffic and road sector. Since movement of vehicles require fuel, oil price significantly affects fluctuation of traffic volume. This study analyzed traffic volumes across different regions and years, as well as oil price fluctuation, to identify the traffic characteristics. The analysis showed that traffic volume decreased as oil prices went up in all regions except for Gyeonggi-province. This finding shows that Gyeonggi-province, a province with high population density and large traffic volume, is the least sensitive to oil price change. The findings of this study can be used in the future for traffic operation analysis, traffic planning and operation strategy establishment, or establishment of public transport policies that consider changes in traffic volume in case of international oil price increase.


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