| Abstract: | Over the last decades, oil consumption in the developing countries hus been increasing rapidly. Road transport has accounted for most of this increase in demand. It is the thesis of this paper that future growth in oil demand in developing countries will occur mainly in the road transport sector and that this growth will be surprisingly strong. Estimated income and price elasticities for several developing countries are presented and forecasts for oil consumption in road transport in the developing countries up to 2010 are given. |
