Economic Foundations of Energy Investments - Green Energy and Efficiency: An Economic Perspective - page 73

Fig. 5 ULSD Futures 08/23/2013 and estimated IGBM Model

Fig. 6 RBOB Gasoline 08/23/2013 and estimated model

In this case an estimation without taking seasonality into account gives the
following values:

kS m

7622.
However, some degree of seasonality can be seen in the

kþk ¼

103 : 3688 and k þ k ¼ 0 :

gure. This can be
modeled with a deterministic function of the following type: f ðtÞ ¼ ccosð 2 pðt þ /ÞÞ .