Journal of the Korean Institute of Gas (한국가스학회지)
- Volume 3 Issue 2 Serial No. 7
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- Pages.11-16
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- 1999
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- 1226-8402(pISSN)
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- 2713-6922(eISSN)
An Analysis of Effects of Changes in Foreign Exchange Rates on the Domestic Energy Prices : Diesel, Heavy Oil, and LNG
환율변동이 국내 에너지가격에 미치는 영향 분석 : 경유, 중유, LNG를 중심으로
- Jung Gi Chul (Economic & Managerial Research Division, R&D Center Korea Gas Corporation) ;
- Choi Jea Seoung (Economic & Managerial Research Division, R&D Center Korea Gas Corporation)
- Published : 1999.06.01
Abstract
Oil and LNG products are characterized by the facts that the raw materials are all imported and financing is dependent heavily upon foreign countries. This makes the oil and LNG products sensitive to changes in foreign exchange rates. However, the extent to which they respond to changes in foreign exchange rates, particularly the extent of price changes, vary considerably, due to the differences in the structures of price determination. The purposes of this paper are twofolds. The first one is to analyze the structures of price determination of diesel, heavy oil, and LNG. The second one is to analyze the effects of changes in foreign exchange rates on the prices of and price competitiveness of the fuels in question through the sensitivity analysis. The results of the sensitivity analysis indicate that diesel price is most sensitive and heavy oil price is least sensitive to changes in foreign exchange rates.
원자재를 전량 해외로부터의 도입에 의존하고 외화차입비중이 높은 국내 석유류 및 LNG 제품은 그 특성상 환율변동에 상당히 민감한 속성을 가지고 있다. 그러나 경쟁연료임에도 불구하고 석유류와 LNG는 상이한 형태의 가격결정구조를 보유하고 있기 때문에 환율변동에 따른 반응정도, 특히 가격변동 정도가 상이하다. 따라서 이들 연료에 대한 가격결정구조의 분석과 환율변동의 민감도분석을 통해 환율변동 정도에 따른 경유, 중유, LNG의 평균환율변동효과와 환차변동효과를 분리