Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan
Vol 25, No 1 (2024): JEP 2024

Energy Consumption and Government Policy in Addressing the Rising Fuel Oil Prices

Istiqomah, Nurul (Unknown)
Mafruhah, Izza (Unknown)
Wilyawati, Arieska Kurnia (Unknown)
Mayasari, Febi (Unknown)
Salleh, Norlida Hanim Mohd (Unknown)



Article Info

Publish Date
23 Jun 2024

Abstract

This study aims to determine the effect of economic growth, per capita income, world oil prices and the amount of subsidies on energy consumption in Indonesia both in the short and long term. As well as knowing the policies carried out by the government to overcome the increase in fuel prices. The data used is secondary data from 1972 - 2022 and analyzed using ECM Domowitz-El Badawi and Atlas.ti which is used to organize, explore and analyze data on policies made by the government to overcome rising fuel prices. The analysis shows that economic growth, per capita income and the size of subsidies have a long-run effect on energy consumption, while world oil prices have both a short and long-run effect on energy consumption. The reduction of subsidies that caused fuel prices to increase had both positive and negative effects on society, and the government made several policy efforts to overcome the turmoil that existed in the community. Among them are adjusting fuel prices and prices of other affected goods, limiting ownership of motorized vehicles, maintaining a stable supply of fuel in the long term and increasing supervision and enforcement in fuel abuse.

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Journal Info

Abbrev

JEP

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan is a scientific journal that contains the results of theoretical research and studies on economic and development issues. Managed by Department of Development Economics, Faculty of Economics and Business Universitas Muhammadiyah ...