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Impact of Oil Price Evolution on Logistics Industry

Author

Listed:
  • Ramona Iulia Dieaconescu
  • Mihaela Gabriela Belu
  • Maria Gheorghe

Abstract

Since 2020, two major crisis impacted the global environment: the COVID-19 pandemic and the Russia-Ukraine war. Both had a major impact on international trade and on the evolution of oil prices which has a direct effect on the logistics industry. The scope of our paper is to investigate the effects of oil price evolution on logistics activities, especially transport. Costs of shipment represent an important component of final prices for consumer products and they can influence the general rate of inflation. This is a major concern among government officials in all countries, as high inflation rates can have negative effects on national economies. Our paper is focused on analyzing price trends on each mode of transport, but also prices for integrated logistics services. The results of our analysis offer insight on the logistic market trends and can be useful to professionals from companies, but also for academics interested in this field and consumers worldwide concerned about prices going up.

Suggested Citation

  • Ramona Iulia Dieaconescu & Mihaela Gabriela Belu & Maria Gheorghe, 2022. "Impact of Oil Price Evolution on Logistics Industry," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 25(84), pages 3-18, December,.
    • Handle: RePEc:rej:journl:v:25:y:2022:i:84:p:3-18
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    More about this item

    Keywords

    oil price; logistics; transport; energy sector; European policies;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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