Modelling and simulation of tempo-spatial dynamics in Australian petrol retail pricing

Project Level: Summer

Project Duration: 6 weeks

Hours of Engagement: 30

Project Description:

It is well known that petrol prices in Australia follow a regular pattern by which prizes suddenly increase every couple of weeks (https://www.accc.gov.au/consumers/petrol-and-fuel/petrol-price-cycles-in-majorcities) followed by longer periods of slow decrease. In this project, we would like to collect data and use mathematical modelling and model inference to identify the type of coordination between retailers which may drive the petrol price cycles. Note that this project is highly speculative and at this point – and within the time frame of a summer project - only aimed at coming up with preliminary ideas and approaches.

Expected Outcomes:

Scholars may gain skills in data collection, data analysis, mathematical modelling, simulation and visualisation.

Suitable for:

Due to the speculative and explorative nature of the project it is open to applications from curious and self-driven students with a background in quantitative sciences (Mathematics, Physics, etc).

Contact for further information:

Dr Dietmar Oelz: d.oelz@uq.edu.au 

Please contact Dr Dietmar Oelz if you would like to apply for this project.