Design of Mamdani - Type Model for Predicting the Future Price of Fuel on the Basis of Demand and Supply

Abstract

This paper presents the design of fuzzy inference system for predicting the price of the petroleum product on the basis of demand and supply. As the demand increases and the supply decreases the price of petroleum products also increases. Modeling of efficient price estimation system on the basis of two inputs as demand and supply using Mamdani model is presented in this paper. The inference engines are modeled using the FIS editor of Fuzzy Logic toolbox, a tool of Matlab. Out of various methods available, Center of gravity (CG) defuzzification method is used for obtaining the crisp output. It is proposed to consistently handle all linguistic derivations that allow “IF-THEN” formulation by applying Fuzzy Logic (FL). The parameters for the input variables and output variable and their membership functions works on the range of the values for demand and supply. The results obtained are analyzed to explore the design space.
DOI: 10.17762/ijritcc2321-8169.150639